Sula Vineyards IPO opens on 12 December: check details here

The Initial Public Offering (IPO) of Sula Vineyards, India’s largest winemaker, will open for subscription on 12 December. The company has fixed the price band at Rs 340-357 per share for its Rs 960 crore IPO, which concludes on 14 December. For anchor investors, the bidding will be available on 9 December. The Sula Vineyards IPO has reserved 50 per cent of shares for Qualified Buyers (QIBs), while 15 per cent has been set aside for Non-Institutional Investors (NII). The remaining 35 per cent portion of the IPO has been fixed for retail investors. The public issue has a face value of Rs 2 per equity share, and it is a pure offer-for-sale (OFS) aggregating to 26,900,532 equity shares by the existing shareholders and promoters of the company. Sula Vineyards is likely to begin crediting shares to the allottees on 21 December, and the stock may make its debut on exchanges on 22 December. Investors can purchase a minimum of 42 equity shares or their multiples. The offloading of shares via the OFS route is being done by the firm’s CEO Rajeev Samant, and investors including Haystack Investments Limited, Cofintra, SWIP Holdings Limited, Verlinvest S.A, and Verlinvest France S.A. The book-running managers for the IPO are CLSA, Kotak Investment Banking, and IIFL Securities. The registrar to the offer is KFin Technologies, while the legal advisers are law firms Shardul Amarchand Mangaldas and Trilegal. The winemaker is recognised as the market leader across wine variants, such as white, red, and sparkling wines. The wines are distributed by the company under a bouquet of popular brands such as Sula, which is its flagship brand, along with other brands like Dindori, Satori, The Source, RASA, Madera & Dia. Sula Vineyards was established in 1996 by Rajeev Samant and the company has since grown to become India’s biggest producer and seller of wine. At present, the firm produces 56 different labels of wine from 13 of its own brands and 20 international ones. The winemaker reported net revenue of Rs 457 crore in the fiscal year 2022, an increase of 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.