arrow-left

Sula Vineyards IPO set to launch on December 12

  • India Infoline News Service |
  • 06 Dec, 2022 |
  • 3:12 PM

India's largest wine producer Sula Vineyards is all set to launch its initial public offer (IPO) between December 12 and December 14. If the company's IPO goes as planned, it will become the first listed pure wine producer.

According to the DRHP, this issue is solely an offer for sale by the promoters and existing shareholders. The size of the offer for sale is up to 25,546,186 shares. The company has downsized its issue and is likely to raise around Rs 950-1,000 crore through the initial stake sale. However, the company was earlier looking at raising around Rs 1,200-1,400 crore through its IPO.

Headquartered in Nashik, the company produces 56 different wine brands at various facilities across the Indian states of Maharashtra and Karnataka.

As of March 31, 2022, the company's distribution platform included over 47 distributors, 10 corporations, 23 licensed dealers, 7 corporate warehouses, 4 defense units and over 23,000 points of sale.

Kotak Mahindra Capital, CLSA India and IIFL Securities are the book-running lead managers to the IPO. The company has appointed KFin Technologies Limited as the registrar to the IPO.

Invest wise with Expert advice

mobile icon
  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
ad IconAd Image

Most Read News

Article Image
  • 14 March, 2022 |
  • 7:03 AM

The US Federal committee's meeting will conclude on March 16, 2022.

Most Shared News

No Record Found