Duroflex Files for ₹183.6 Crore IPO to Expand Retail Network

Sleep and comfort solutions company Duroflex has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company plans to use the proceeds to expand its retail footprint, repay leases, and strengthen marketing efforts. 

Duroflex IPO Details

According to the Draft Red Herring Prospectus (DRHP), the IPO includes a fresh issue of shares worth ₹183.60 crore and an offer for sale (OFS) of up to 22,564,569 shares by existing promoters and investors.

Under the OFS, promoters Jacob Joseph George, Mathew George, Mathew Chandy, and Mathew Antony Joseph will sell part of their holdings. Existing investors Lighthouse India Fund III Limited and Lighthouse India III Employee Trust will also offload shares.

The company plans to use the funds from the fresh issue for:

• Setting up new Company-Owned Company-Operated (COCO) stores
• Repayment of lease liabilities for existing COCO outlets
• Marketing and advertising initiatives
• General corporate purposes

JM Financial and Motilal Oswal Investment Advisors are the book-running lead managers, while KFin Technologies will act as the registrar to the issue.

About Duroflex

Founded in Kerala, Duroflex is one of India’s top three mattress brands, as per the TKC Report. The company offers a wide range of sleep and comfort products such as mattresses, pillows, recliners, sofas, beds, and other furnishings.

It operates through a diversified omni-channel network, catering to both direct retail consumers under its brands Duroflex, Perfect Rest, and Sleepyhead, and institutional clients in sectors like hospitality, healthcare, education, and government. It also supplies OEM mattresses to national and international brands.

Financial Performance of Duroflex

Duroflex has shown consistent growth over the years.

The company’s revenue has grown at a CAGR of 21.81% from FY20 to FY25. Duroflex also reported having the highest profit margins and return on capital employed (ROCE) among listed mattress and home furnishing peers with revenues above ₹500 crore.

Read more: Senco Gold Opens First Franchise Store in Rajasthan; Share Price Rises on Oct 16, 2025.

Conclusion

With its strong financial growth and wide product range, Duroflex aims to strengthen its retail presence and brand visibility through this IPO. The listing will help the company reduce liabilities, expand stores, and capture India’s fast-growing home comfort market.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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