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HomeBusinessAhead of IPO, Sula Vineyards raises ₹288.10 cr from anchor book

Ahead of IPO, Sula Vineyards raises ₹288.10 cr from anchor book

India’s largest wine producer Sula Vineyards raised funds ahead of its IPO 288.10 crore from anchor investors.

Sula Vineyards showed in its registration application that 8,070,158 shares were subscribed to 357 per share on Friday.

Nearly 22 major investors bought shares, including Abu Dhabi Investment Authority, Goldman Sachs, New York State Teachers Retirement System, Ashoka India Equity Investment Trust Plc, Segantii India Mauritius, Morgan Stanley, BNP Paribas Arbitrage and Citigroup Global Markets Mauritius.

Domestic investors Aditya Birla Sun Life Trustee, HDFC Mutual Fund, SBI Mutual Fund, ICICI Prudential Life Insurance, HDFC Life Insurance, Aditya Birla Sun Life Insurance and Max Life Insurance also bought shares

“Of the total allocation of 8,070,158 shares to the Anchor Investors, 2,521,134 shares (i.e., 31.24% of the total allocation to Anchor Investors) were allocated to 3 domestic mutual funds through a total of 5 schemes,” said Sula Vineyards. in its regulatory filing.

Sula Vineyards has set the price range at 340 and 357 per share 960 crore initial public offering (IPO). The company said the IPO will open for subscription on Dec. 12 and close on Dec. 14.

The public issue with a face value of 2 per share of stock is a pure offer for sale (OFS), including up to 2,69,00,530 shares, by the company’s existing shareholders and promoters.

According to market observers, Sula Vineyards shares carry a premium (GMP) of 43 in the gray market today. The company’s shares are expected to list on the leading stock exchanges BSE and NSE on Thursday, December 22, 2022.

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The Nashik-based winemaker is recognized as a market leader in wine varieties, including red, white and sparkling wines. The company distributes wines under a bouquet of popular brands such as Sula, the flagship brand, in addition to other popular brands such as RASA, Dindori, The Source, Satori, Madera & Dia.


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