Sheela Foam's Shares Rise After Completion of Qualified Institution Placement

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Sheela Foam's Shares Rise After Completion of Qualified Institution Placement

Shares of Sheela Foam, a polyurethane foams manufacturer, saw a nearly 3 percent increase in early trade on September 26 following the completion of its qualified institution placement (QIP). The company closed the QIP on September 25 and allocated 1.1 crore equity shares at an issue price of Rs 1,078 per share. The stock was trading at Rs 1156.05 on the National Stock Exchange (NSE), representing a 2.32 percent increase. Sheela Foam raised Rs 1…