Duroflex Files for IPO to Raise ₹184 Crore, Expands Retail Footprint
Indian mattress manufacturer Duroflex has submitted draft papers to SEBI for an initial public offering, seeking to raise ₹183.6 crore through a fresh issue. The IPO includes an offer-for-sale component where promoters and existing investors will divest over 2.25 crore shares.
Proceeds will fund aggressive retail expansion, with plans to establish 120 new company-owned stores. The 62-year-old company, holding a top-three market position in India's bedding sector, currently operates 74 COCO stores and distributes through 7,500 retail partners.
Capital allocation will prioritize store network growth, manufacturing facility obligations, and brand marketing initiatives. The MOVE comes as India's consumer durable sector shows renewed investor appetite following pandemic-driven home improvement trends.
