Sula Vineyards IPO: The country’s largest winemaker Sula Vineyards on Wednesday fixed the price band at Rs 340 and Rs 357 per share for its Rs 960 crore initial public offering (IPO). The company produces 56 different labels of wine at four owned and two leased production facilities located in Maharashtra and Karnataka. Belgium-based Verlinvest has put over $70 million into the company.
Sula Vineyards IPO: Subscription Dates
The company said its IPO will open for subscription on 12 December and will conclude on 14 December and the bidding for anchor investors will open on 9 December, the company said in a statement.
Sula Vineyards IPO: Issue Size
The public issue with a face value of Rs 2 per equity share is a pure offer-for-sale (OFS), including up to 2,69,00,530 equity shares, by the existing shareholders and promoters of the company.
Sula Vineyards IPO: Important Dates
Ahead of the IPO, anchor investors will be allowed to bid in Sula Vineyards on 9 December. The company is expected to start crediting shares to allotees on 21 December and the stock may debut on exchanges on 22 December.
Sula Vineyards IPO: Lot Size
Investors can bid for a minimum of 42 equity shares and in multiples of 42 equity shares thereafter.
Sula Vineyards IPO: Shareholders
Promoter Rajeev Samant with other selling shareholders, including Cofintra SA, Haystack Investments, Saama Capital III, SWIP Holdings, Verlinvest France SA, Verlinvest SA and others, will participate in the OFS.
Sula Vineyards IPO: Financials
For the year ended on March 31, 2022, the company reported a total revenue of Rs 456.7 crore with a net profit of Rs 52.14 crore, which was Rs 421.53 crore and Rs 3.01 crore in the year-ago period.Sula Vineyards’ bottomline stood at Rs 30.51 crore with total revenue of Rs 225.76 crore for the period ended on September 30, 2022.
Kotak Investment Banking, CLSA and IIFL Securities are the book running managers to the IPO and KFin Technologies Limited is the registrar to the offer. Law firms Shardul Amarchand Mangaldas and Trilegal are the legal advisors, as per the draft papers filed with SEBI.
Sula Vineyards IPO: GMP
As per market observers, Sula Vineyards shares are available at a premium (GMP) of Rs 34 in the grey market.
Sula Vineyards IPO: Share Allotment Status
Those who would bid for the issue can check the subscription status on the online portal of KFin Technologies, the registrar of the IPO.
About Sula Vineyards
The Nashik-based wine maker has been recognised as the market leader across wine variants, including red, white and sparkling wines. The firm distributes wines under a bouquet of popular brands like Sula, its flagship brand, besides other popular brands like RASA, Dindori, The Source, Satori, Madera & Dia.
Sula has been backed by various private equity funds and institutional investors, including Verlinvest, Everstone Capital, Visvires, Saama Capital, and DSG Consumer Partners.The distribution platform of the company included over 47 distributors, 10 corporations, 23 licensed resellers, 7 company depots, 4 defence units and over 23,000 points of sale as of March 31, 2022.
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