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The makers of Sleepwell mattresses, Sheela Foam has been planning to foray into the Middle East markets and is aiming the contribution from export to be in double digit over the next two to three years.
The company which would be launching its initial public offer tomorrow for raising Rs 510 crore, is also looking to have new units in Madhya Pradesh for the Central region and in Eastern UP.
Rahul Gautam, Sheela Foam MD has said that “In Middle East region, brand is registered there and we would be able to send material there. Although, transport cost for mattress is very high but fortunately for places as Dubai charges are reasonable.”
