After tepid debut, Sula Vineyards closes at 7.23% lower

22 Dec 2022 , 04:43 AM

Amid weakness in the market, shares of Sula Vineyards listed at a margin premium of 1%. The stock listed at Rs 361 apiece on the NSE and at Rs 358 apiece on BSE. The company closes at 7.23% discount over the issue price, at Rs 331.20 on NSE and Rs 331.15 on BSE. The company hit the lo of Rs 328.60 per share at around 2:00 PM.

The company distributes wines under a bouquet of popular brands such as Sula, Dindori, RASA, Madera & Dia, etc. It produces 56 different labels of wines across 13 distinct brands at its four owned and two leased production facilities located in the Indian states of Maharashtra and Karnataka.

The initial public offer of Sula Vineyards was subscribed 2.33 times. The company has sold its share in the range of Rs 340-357 per share.