NSE Symbol: SFL
Date: October 01, 2026
Disinvestment / Strategic Actions
Sheela Foam Limited (SFL) entered into an amendment agreement on October 1, 2026, with House of Kieraya Limited (HOK/Furlenco) and its significant shareholders to change the Affirmative Vote Matters in the Shareholders' Agreement executed on July 17, 2023.
Consequently, the status of House of Kieraya Limited has changed from a jointly controlled entity to a subsidiary of Sheela Foam Limited, effective from the amendment date (October 1, 2026).
Target Entity Details:
- Name: House of Kieraya Limited (HOK/Furlenco)
- Business: Leading furniture company with strong online presence
- Operational Cities: Bengaluru, Mumbai, and Delhi NCR
- Industry: Furniture
- Founded: 2012 by Mr. Ajith Mohan Karimpana
- Turnover (including other income):
- FY 2023-24: ₹152 Crore
- FY 2024-25: ₹240 Crore
- FY 2025-26: ₹375 Crore
Transaction Details:
- The amendment does not involve any transfer of shares or payment of any consideration
- No monetary consideration exchanged between parties
- SFL maintains its existing 34.53% equity shareholding in House of Kieraya Limited
- The change in control resulted from exercise of contractual rights through amended affirmative vote matters
- No governmental or regulatory approvals required
- The change in control and status became effective immediately upon execution of the amendment
Strategic Rationale:
- The acquisition of control will help the Company enter the fast-growing branded furniture market
- Furlenco is described as one of the fastest-growing furniture companies in India operating a tech-driven business
Related Party Aspects:
- The promoter/promoter group has an interest in HOK by virtue of their directorship/representation in HOK
- The relationship between SFL and HOK changes from jointly controlled entity to subsidiary
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified
Board Meeting Outcomes
Not Specified
Financial Results (Standalone & Consolidated)
Not Specified