Sleep solutions company Duroflex has initiated steps toward a public listing by converting its holding entity into a public limited company, according to regulatory filings cited in media reports.

The firm’s board approved a special resolution to change its name from Duroflex Private Limited to Duroflex Limited, marking a significant milestone in its IPO journey.

The Kerala-headquartered company is reportedly planning to list on Indian stock exchanges by the end of 2026. Its proposed initial public offering is expected to comprise both a fresh issue of equity shares and an offer for sale, allowing the company to raise capital while also providing partial exits for existing investors.

Founded in 1963, Duroflex has built a wide presence in the sleep solutions market through an omnichannel model.

It sells mattresses, pillows, bed linen, furniture, and accessories via its own website, offline retail outlets, and large e-commerce platforms including Amazon and Flipkart. Its digital-first brand Sleepyhead focuses on younger consumers seeking direct-to-consumer offerings.

Data from startup intelligence platform TheKredible shows that the company has raised more than USD 80 million in funding so far. Norwest Venture Partners and Lighthouse have been among its key backers.

In terms of performance, Duroflex reported operating revenue of INR 1,095.3 crore in FY24, largely unchanged from the previous year. Profit declined to INR 11.2 crore in FY24 compared with a loss of INR 15.47 crore in FY23.

Rivals include Wakefit, which has already filed draft papers with the market regulator for an INR 468 crore issue, The Sleep Company, which recently secured INR 480 crore in funding, and established players like Sheela Foam.