On Wednesday, a leading brand in sleep and comfort solutions, Duroflex, submitted its Draft Red Herring Prospectus to SEBI with the intention to launch its IPO (Initial Public Offering).
This IPO comprises a fresh issue of ₹183 crore and an offer for sale (OFS) of up to 22.56 million shares by its promoters.
The promoters selling shareholders include Jacob Joseph George, Mathew Chandy, Mathew George, and Mathew Antony Joseph. The investors selling their shareholdership are Lighthouse India Fund III and Lighthouse India III Employee Trust.
As per the DRHP, the proceeds raised from the fresh issue will be utilized to open 120 new COCO stores. Some funds will be used to pay rent and license fees for existing stores and their Manufacturing Facility – VII. A portion of the funds will be used to spend on marketing and advertising in order to boost brand visibility. Lastly, the remaining funds will be used for the company’s general corporate purposes.
JM Financial and Motilal Oswal Investment Advisors are the book-running lead managers of the issue, and Kfin Technologies is the registrar.
The Equity shares are proposed to list on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).
Duroflex is one of the leading companies that manufactures a wide range of sleep and comfort products in India, including foam, mattresses, sofas, recliners, beds, pillows, accessories, and other furnishings. Founded in 1963, the company consists of 7 manufacturing facilities across India. Additionally, they manufacture all of the foam that is utilized as the primary raw material for mattresses and sofas in-house. With 73 COCO stores, 375 distributors, and 5,576 general trade stores, the company demonstrates a strong presence across all distribution channels.
In FY25, Duroflex generated a revenue of ₹1,134.25 crore, up 3.56% from the previous year, and EBITDA rose to ₹97.97 crore. The net Profit also rose by ₹47.16 crore from ₹11.2 crore in FY24.
Duroflex IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Duroflex Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ₹1070.27 | ₹1074.76 | ₹15.47 |
| 2024 | ₹1106.40 | ₹1096.90 | ₹11.20 |
| 2025 | ₹1152.95 | ₹1103.77 | ₹47.16 |
| June 2025 | ₹296.95 | ₹289.09 | ₹5.64 |
Duroflex IPO Valuation – FY2025
Duroflex IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹4.93 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 11.82% |
| Net Asset Value (NAV): | ₹- |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Sheela Foam Limited | 8.84 | 76.92 | 3.19% | 278.84 | 3,439.19 Cr. |
Objects of the Issue
- Capital expenditure to be incurred for setting up of new COCO Stores (“New COCO Stores”);
- Expenditure for lease, sub-lease rent and license fee payments for our existing COCO Stores and Manufacturing Facility– VII;
- Marketing and advertisement expenses towards enhancing the awareness and visibility of our brand; and
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- JM Financial Limited
- Motilal Oswal Investment Advisors Limited
