Sheela Foam Limited has successfully completed the sale of fractional shares arising from its composite scheme of arrangement involving the amalgamation with Kurlon Enterprise Limited. The company has formally communicated to both BSE Limited and the National Stock Exchange of India Limited regarding the completion of the fractional share disposal process on April 22, 2026, with proceeds to be distributed to eligible shareholders through an appointed Trust.

Official Exchange Communication

On April 23, 2026, Sheela Foam Limited submitted an official communication to both stock exchanges regarding the completion of fractional share sales. The communication was signed by Company Secretary & Compliance Officer Md. Iquebal Ahmad and addressed to BSE Limited and the National Stock Exchange of India Limited.

Trust-Based Distribution Mechanism

Pursuant to the composite scheme of arrangement approved by the Hon'ble National Company Law Tribunal, Mumbai Bench, the fractional entitlements arising from the share exchange ratio have been consolidated and allotted to a Trust appointed by the Board. The Trust has sold such consolidated shares in the open market on April 22, 2026, ensuring efficient disposal of fractional holdings.

Proceeds Distribution Process

The net sale proceeds from the fractional share disposal, after deduction of applicable charges and taxes, will be distributed to the eligible shareholders of Kurlon Enterprise Limited in proportion to their respective fractional entitlements. This distribution mechanism ensures that all shareholders receive their complete entitlements from the amalgamation process in monetary form.

Composite Scheme Structure

The comprehensive corporate restructuring involved multiple entities under the composite scheme of arrangement approved under Sections 230 to 232 of the Companies Act, 2013. The scheme encompassed the amalgamation of Belvedere International Limited, Kanvas Concepts Private Limited, Kurlon Retail Limited, Komfort Universe Products and Services Limited, and Starship Value Chain and Manufacturing Private Limited into Kurlon Enterprise Limited, which was subsequently amalgamated into Sheela Foam Limited.

The completion of this fractional share sale represents the final step in the amalgamation process, ensuring that all eligible shareholders receive their complete entitlements from the corporate restructuring. The Trust-based mechanism provides an efficient solution for handling fractional shares while maintaining transparency and regulatory compliance.

Sheela Foam Limited has announced the cancellation of its management's participation in the 11th Annual Valorem Conference, updating its previous regulatory disclosure under SEBI listing obligations.

Conference Cancellation Update

The company has informed stock exchanges that it will not participate in the 11th Annual Valorem Conference, which was originally scheduled for Monday, March 23, 2026, at Grand Hyatt-Kalina, Mumbai. The cancellation was attributed to unforeseen schedule changes affecting the company's availability.

Regulatory Communication

The updated disclosure was made pursuant to Para A of Part A of Regulation 30(6) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. This follows the company's initial intimation dated March 18, 2026, regarding the proposed participation in the conference themed "Resilient Corporates, Relentless India."

Official Documentation

The formal cancellation notice was signed by Md. Iquebal Ahmad, Company Secretary & Compliance Officer, on March 19, 2026. The communication was addressed to both BSE Limited (Scrip code: 540203) and The National Stock Exchange India Limited (NSE Symbol: SFL), ensuring comprehensive disclosure to all relevant regulatory bodies.

This cancellation represents a change in Sheela Foam Limited's investor relations schedule, with the company maintaining transparency through timely regulatory updates while adhering to disclosure requirements regarding scheduled investor and analyst meetings.