Mattress brand Duroflex files for ₹184 crore IPO
Duroflex, the Kerala-based sleep solutions brand, just filed for an IPO aiming to raise ₹184 crore.
The plan includes a fresh issue of shares plus an offer for sale by promoters and investors.
JM Financial and Motilal Oswal are leading the process.
About the company and its business
Duroflex was founded in 1963. It sells mattresses, furniture, pillows, and bed linens under its own brands—Duroflex and Sleepyhead.
Mattresses make up a significant portion of its business.
Plans to open 120 new stores across India
Duroflex wants to use the funds to open 120 new stores across India and keep growing fast.
The company recently became a public limited company to prepare for listing.
With over $80 million raised from big investors like Norwest Venture Partners and Lighthouse, Duroflex is already among India's top three mattress brands—and it's hoping this IPO helps it stay ahead as rivals like Wakefit also look to go public.