Sheela Foam Ltd was originally incorporated as a private limited company on June 18, 1971 at Delhi with the name `Sheela Foam Private Limited`. The company became a deemed public limited company on July 1, 1989 and was restored to its status of private limited company with effect from November 30, 1990. The company was converted to a public limited company pursuant to a special resolution on April 30, 2016 and the name of the company was changed to `Sheela Foam Limited` on June 6, 2016. The company is led by Ms. Sheela Gautam and Mr. Rahul Gautam who have been instrumental in the growth of its business from a small foam producing unit to the position of a leading manufacturer of mattresses and technical PU Foam in India. The company`s market position has been achieved by adherence to the vision of its Promoters and senior management team and their experience of over four decades in the home comfort and PU Foam industry. In order to reorganise its group structure to subsume similar and complementary business lines of its subsidiaries and associates within its business, the company has, on three instances, effected mergers of certain of its subsidiaries and associates with itself through schemes of amalgamation. In Fiscal Year 2003, three of its erstwhile wholly owned subsidiaries, namely Feather Foam Enterprises Private Limited, Soft Foam Industries Private Limited and Pallavi Foam Industries Private Limited, which were involved in similar lines of business of the company, merged with itself. Subsequently, in Fiscal Year 2011, Serta India Private Limited, a subsidiary company were merged with the company. Furthermore, in Fiscal Year 2013, five of its erstwhile subsidiaries, namely SNB Bedding International Private Limited, Starlite India Private Limited, RG Pillow (India) Private Limited, Kanpav Overseas Private Limited and Auora Foams Private Limited, merged with the company. The company was incorporated in 1971, and over the last two decades, has developed Sleepwell as an overarching brand associated with comprehensive and quality home-comfort solutions. The company believes that the recall of its brand has been established by an extensive suite of products that range from baseline bedding and furniture cushioning material to ergonomically tailored offerings, an emphasis on quality control and focused brand building. In respect of its technical foam manufacture business, the company believes that "Sheela Foam" is a recognised name associated with diverse and sophisticated grades of technical foam. Sheela Foam commenced manufacture of PU Foam in 1972, and currently own and operate 11 manufacturing facilities in India. All of its facilities are utilized for manufacturing home comfort products, while five of these facilities also manufacture PU Foam. Three of its facilities located in Greater Noida, Talwada and Hyderabad are ISO:9001 certified. In addition to its domestic facilities, Joyce operates five manufacturing facilities in Australia that exclusively manufacture PU Foam primarily through variable pressure foaming technology . The company is a leading manufacturer of mattresses in India marketed under its flagship brand "Sleepwell". In addition, it manufactures other foam-based home comfort products targeted primarily at Indian retail consumers, as well as technical grades of polyurethane foam ("PU Foam") for end use in a wide range of industries. As part of its international footprint, the company manufactures PU Foam in Australia through its wholly owned subsidiary, Joyce Foam Pty Ltd. According to CRISIL, based on revenues, Sleepwell branded mattresses constituted a share of around 20-23% of the organised Indian mattress market as of 2015-2016. The company has developed a pan-India distribution network that consists of over 100 exclusive distributors, over 2,000 exclusive retail dealers and over 2,500 multi-brand outlets, as on September 30, 2016.