The IPO of Nashik-based wine maker, Sula Vineyards opened for subscription on December 12. The IPO was subscribed 28% on day 1. It has received bids for 52,34,670 shares against 1,88,30,372 shares on offer, as per BSE data.
The category for Retail Individual Investors (RIIs) was subscribed 48% and that of non-institutional investors 18%.
The company is offering 26,900,530 equity shares at a price range of Rs 340-357 a share. Investors can apply for 42 shares in a lot, retail investors can apply maximum of 13 lots.
Sula Vineyards has also raised Rs 288 crore from anchor investors, as said by the company in BSE filing on Friday.
Kotak Mahindra Capital Company, CLSA India and IIFL Capital Services are the managers to the offer. The company will finalise the allotment on December 19. The company is expected to list on BSE and NSE on December 22.
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