Sula Vineyards, Landmark Cars, Abans Holdings launching IPOs this week; details here

Landmark Cars, Sula Vineyards, and Abans Holdings are going to roll out their Initial Public Offerings (IPOs) this week collectively, raising Rs 1,858 crore in the process. The IPOs of Sula Vineyards and Abans Holdings will launch today, 12 December. The initial share sale of Landmark Cars will happen on 13 December. Abans Holdings’ initial share sale contains fresh issuance of equity shares of up to 38 lakh and an offer-for sale (OFS) of up to 90 lakh equity shares by promoter Abhishek Bansal. Proceeds from the fresh issue is going to be used for investing in its  Non-Banking Financial Company (NBFC) subsidiary Abans Finance for general corporate purposes and augmenting its capital base for meeting future capital needs.

The firm has fixed a price band of Rs 256-Rs270 per share. It is likely to raise Rs 345.6 crore at the higher end of the price band. The issue is going to conclude on 15 December. Abans Holdings is a global financial services business, offering NBFC services, commodities and foreign exchange, global institutional trading in equities, private client stockbroking, depository services and asset management services, etc. to the corporates, institutional and high net worth individual clients.

Sixty per cent of the equity shares has been reserved for retail investors, while Non-Institutional Investors (NIIs) will receive 30 per cent of the public issue. Rest of the 10 per cent has been booked for Qualified Institutional Buyers (QIBs).

Sula Vineyards’ IPO is going to be entirely an offer-for-sale (OFS), amounting to 26,900,532 equity shares by the promoter, investors and other shareholders. The issue will conclude on 14 December. Those offloading shares via the OFS route are the promoter founder and CEO Rajeev Samant, and investors like Haystack Investments Limited, Saama Capital III, Ltd, Cofintra, SWIP Holdings Limited, Verlinvest SA, and Verlinvest France SA. The price band of the IPO has been set at Rs 340-357 per share by the firm. Sule Vineyards aims to raise Rs 960 crore via its public. The firm has reserved 50 per cent of shares in the IPO for QIBs, while 15 per cent of the issue’s portion has been set aside for NIIs, which also include high net worth Individuals. The remaining 35 per cent of the issue has been fixed for retail investors.

The company is not going to get any proceeds from the offer and all proceeds from the offer will be given to the selling shareholders. Sula Vineyards is regarded as the market leader in India across wine variants, such as red, white and sparkling wines. The wines are distributed by the company under a bouquet of popular brands like RASA, Dindori, The Source, Sula (its flagship brand), Satori, and Madera & Dia.

The Rs 552-crore public issue of Landmark Cars comprises a fresh issue of equity shares amounting to Rs 150 crore and an OFS of up to Rs 402 crore. The IPO will be open for subscription till 15 December. Those selling shares via the OFS route are Sanjay Karsandas Thakker HUF, TPG Growth II SF PTE Ltd, Aastha Limited and Garima Misra. The proceeds from the issue will be used to pay debt and for general corporate purposes. The price band has been set at Rs 481-506 per share for the Landmark Cars IPO. The company has reserved 50 per cent of the IPO for QIBs, while 35 per cent has been set aside for retail investors and the remaining 15 per cent will be allotted to NIIs.

Landmark Cars is a leading premium automotive retail company in India. It has dealerships for Honda, Jeep, Mercedes-Benz, Volkswagen and Renault.

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