December 9, 2016 / 5:13 AM / 8 months ago

BUZZ-India's Sheela Foam soars on market debut

** Sheela Foam Ltd, maker of "Sleepwell" mattresses, surges as much as 39.45 pct over its IPO price of 730 rupees

** The company's 5.1 billion-rupee IPO which closed on Dec. 1 was subscribed 5 times - BSE data (bit.ly/2gqCQlY)

** "Good prospects, healthy and improving return ratios and low leverage should provide valuation comfort in the long term," Religare Broking said in a research report

** The proceeds of IPO will go to selling shareholders

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