Sula Vineyards IPO opens for subscription today: All you need to know about India's largest winemaker

The Initial Public Offering (IPO) of Sula Vineyards, India’s largest winemaker, is going to be open for subscription today, 12 December. The Rs 960 crore issue will conclude on 14 December. The face value of the Sula Vineyards IPO is Rs 2 per equity share, and it is a pure offer for sale (OFS) of up to 26,900,532 equity shares by the existing shareholders and promoters of the firm. The price band of the IPO has been set at Rs 340-357 per share by Sula Vineyards. For the Qualified Buyers (QIBs), the winemaker has reserved 50 per cent of the shares, while 15 per cent has been fixed for Non-Institutional Investors (NII). The remaining 35 per cent portion of the Sula Vineyards public issue has been set aside for retail investors. A minimum of 42 equity shares, or their multiples, can be bought by the investors. The offloading of shares through the OFS route is being done by the company’s CEO Rajeev Samant, and investors like SWIP Holdings Limited, Verlinvest S.A, Haystack Investments Limited, Cofintra SA, and Verlinvest France S.A. Sula Vineyards is expected to begin crediting shares to the allottees on 21 December, while the stock may make its debut on the exchanges on 22 December. Kotak Mahindra Capital Company Limited, CLSA India Private Limited and IIFL Securities are the book-running managers for the offer. KFin Technologies is the registrar, while the legal advisers are Trilegal and Shardul Amarchand Mangaldas. Sula Vineyards is recognised as the market leader across wine variants like white, red, and sparkling wines. The winemaker distributes wines under a bouquet of popular brands like its flagship brand Sula, as well as other brands such as The Source, RASA, Dindori, Satori, Madera and Dia. Rajeev Samant founded the company in 1996, and since then, it has grown to become the country’s largest producer and seller of wine. Presently, Sula Vineyards produces 56 different labels of wine from 13 of its own brands as well as 20 international ones. The firm earned a net revenue of Rs 457 crore in the fiscal year 2022, up by 8 per cent from the previous year. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.