Duroflex Files for IPO; Plans to Raise ₹83.6 Crore Through Fresh Issue

Bengaluru, October 16: Duroflex has announced that it has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The DRHP is regarding its Initial Public Offering (IPO) that includes a fresh issue of equity shares worth ₹183.6 crore along with an Offer for Sale (OFS) of over 2.25 crore shares by its promoters and existing investors.

Promoters Jacob Joseph George, Mathew Chandy, Mathew George, and Mathew Antony Joseph, along with investors Lighthouse India Fund III Ltd and Lighthouse India III Employee Trust, will sell their shares during the OFS. The company has appointed JM Financial and Motilal Oswal Investment Advisors as the book-running lead managers for the issue.

Duroflex is an Indian company that manufactures mattresses and provides sleep solutions. The company was established in 1963, and is headquartered in Bengaluru, Karnataka.

Establishing 120 New COCO Stores Main Fundraising Motive

Duroflex plans to use the funds from its fresh issue for several key purposes. A major portion will be used to expand its retail footprint by establishing 120 new company-owned, company-operated (COCO) stores. The funds will also be used to pay rent and license fees for its existing stores and manufacturing plants, and to support marketing and advertising campaigns to strengthen the brand. The remaining amount will be used for general corporate purposes.

Operates 74 Stores

As of June 30, 2025, Duroflex operated 74 of its own stores and sold its products through more than 7,500 partner stores, in addition to its digital sales channels. The company has seen sharp growth, with its revenue from operations increasing from ₹1,057 crore in the 2023 financial year to ₹2,925 crore by June 30, 2025.

Duroflex’s IPO marks another major listing in India’s consumer durable sector, highlighting the growing investor appetite for lifestyle and home comfort brands.

REF: https://nsearchives.nseindia.com/corporate/Registration_15102025204221_ProjectAarohan_DRHP.pdf

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