On final day of the offer, Sula Vineyards IPO was subscribed 2.28 times by 3:33 PM. The issue is entirely an offer for sale and company will not receive any proceeds. The price band for the offer is Rs 340-357 per share.
The company has reserved 50% of the offer for qualified institutional buyers, 15% for high networth individuals, and the remaining 35% for retail investors.
The offer has received bids for 4.29 crore equity shares against IPO size of 1.88 crore shares, getting subscribed 2.28 times. Retail investors have bought their quota 1.57 times, while high networth individuals booked 1.41 times of their reserved portion whereas Qualified institutional buyers bought 4.13 times the portion set aside for them.
Kotak Investment Banking, CLSA and IIFL Capital Services are the merchant bankers of the IPO and KFin Technologies Limited is the registrar to the offer.
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