Cyril Amarchand Mangaldas (CAM) advised Sheela Foam Limited (SFL)] on increasing its investment in furniture brand Furlenco through a preferential issue for an undisclosed amount and on the structuring of the rights package offered to other investors in the funding round.
CAM partner Anand Jayachandran led the transaction team for SFL, which was already a controlling shareholder of Furlenco. Senior associate Kritika Dobhal, and associates Ipkshita Singh and Neerali Nanda provided support. Partner Gayathri Ramachandran advised on securities law compliance.
Khaitan & Co acted as counterparty counsel to House of Kieraya, the parent company of Furlenco.
Furlenco is a furniture retail startup with an online presence and operations in major Indian cities, including Bengaluru, Mumbai and Delhi NCR.
SFL is a major Indian company providing mattresses and foam products to furniture enterprises.
