India’s largest wine producer and seller, Sula Vineyards has made a muted debut on the Dalal Street. The company listed at 1.1% premium of the issue price at Rs 361 per share on NSE and Rs 358 at BSE.
The IPO of the company was subscribed 2.33 times during December 12-14, with every category fully subscribed but the overall investor response fell short.
The initial public offer of Sula Vineyards was entirely an offer for sale (OFS) where promoters, and other existing investors sold close to 2.7 crore shares. An Offer for Sale or OFS means that Sula Vineyards will not receive any proceeds from the sale of shares.
Kotak Mahindra Capital Company Ltd, CLSA India Private Ltd, and IIFL Capital Services were the managers of the offer.
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