Sheela Foam Gains Control Of House Of Kieraya, Making It A Subsidiary
Mumbai: Sheela Foam Limited announced on 1 October 2026 that House of Kieraya Limited, also known as Furlenco , is now a subsidiary. This change came into effect after an amendment to the Shareholders' Agreement, originally executed on 17 July 2023. Ownership Details Prior to this amendment, HOK was a jointly controlled entity. Sheela Foam holds 34.53% equity shares in House of Kieraya Limited.…
On October 1st, 2026, Sheela Foam Limited made an official announcement that House of Kieraya Limited, also known as Furlenco, is now a subsidiary. This transition occurred after an amendment to the Shareholders' Agreement, initially signed on July 17th, 2023.
Previously, HOK was a jointly controlled entity. However, Sheela Foam now controls 34.53% of House of Kieraya Limited's equity shares. Importantly, the amendment agreement did not involve any transfer of shares, new consideration, or monetary payments between the parties. No new shares were issued in this change.
Following the news of this acquisition, Sheela Foam shares surged by nearly 15%. The strategic rationale behind this move is Sheela Foam's aim to enter the rapidly expanding branded furniture market. House of Kieraya Limited is a well-established furniture company with a notable online presence in Bengaluru, Mumbai, and Delhi NCR.
House of Kieraya Limited reported a turnover of ₹375 crore for the fiscal year 2025-26. This figure increased from ₹240 crore in the fiscal year 2024-25 and ₹152 crore in the fiscal year 2023-24. The company was established in 2012 by Ajith Mohan Karimpana.
Sheela Foam affirmed that no government or regulatory approvals were necessary for this transaction. As this news is based on company exchange filings, it is provided for informational purposes only. Investors are advised to carefully consider the risks involved before making any investment decisions.
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