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Sula Vineyards IPO opens today: GMP, review, price, other details. Apply or not?

Sula Vineyards IPO: Sula Vineyards’ initial public offering (IPO) is set to reach primary markets today. The public offering is open to bids until December 14, 2022. India’s largest wine producer and marketer wants 960.35 crore from its public offering and it is completely OFS (offered for sale) in nature. the company has a fixed price range of the public issue 340 to 357 each.

Awaiting the opening date of Sula Vineyards’ IPO subscription, the gray market is dropping positive signals regarding the public offering. According to market observers, shares of Sula Vineyards Ltd are available at a premium of 34 in the gray market today.

Here we list important Sula Vineyards IPO details:

– Sula Wijngaarden IPO GMP: According to market observers, shares of Sula Vineyards Ltd are available at a premium of 34 in the gray market today, meaning Sula Vineyards is GMP today 34. On Sunday, Sula Vineyards’ IPO was GMP This means that the share price of Sula Vineyards has increased 10 in the gray market today.

– Sula Vineyards IPO price range: The company has a fixed price range of its public offer 340 to 357 per equity.

– Sula Vineyards IPO subscription date: The public offer will open to bidders on December 12, 2022 and will remain open until December 14, 2022.

– Sula Vineyards IPO Size: The wine producer and seller company is aiming for elevation 960.35 crore, which is 100 percent OFS in nature.

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– Sula Vineyards IPO lot size: A bidder can apply for the IPO in lots and one lot will contain 42 shares of the company.

– Sula Vineyards IPO Application Limit: A bidder can apply for at least one lot, while a single private investor can apply for up to 13 lots from the IPO.

– Sula Vineyards IPO allotment date: The tentative share allocation date is December 19, 2022.

– IPO listing of Sula Vineyards: The public offering is proposed for listing on BSE and NSE and the tentative date for listing of company shares is December 22, 2022.

– Sula Vineyards IPO Registrar: KFin Technologies Limited has been appointed as the official registrar of the IPO.

-Sula Vineyards financial data: Over FY20-22, the company reported a 6.7% CAGR decline in consolidated sales, which amounted to Rs. 453.9 cr in FY22. During the period, total sales volume increased 1.5% CAGR, while a lower focus on third-party brand distribution led to a decline in mixed realization of 9.4% CAGR. Own-brand wine sales increased 7.2% CAGR, while third-party brand sales declined 53% CAGR. As a result, the business contribution from own brand sales increased from 63.6% in FY20 to 83.9% in FY22. Vertical wine tourism revenue increased 10.9% CAGR, while business contribution in FY22 was 7.6%.

In H1 FY23, Sula Vineyards reported a 36.8% year-over-year increase in sales volume and a 2.2% year-over-year increase in blended realization. Sula reported a 40.8% year-on-year increase in consolidated sales to Rs. 224.1 cr. Relatively lower operating expenses led to approximately 10 ppt and 11 ppt expansion in EBITDA and PAT margin.

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– Sula Vineyards IPO Review: On whether to apply for the public offering or not, Choice Broking’s report says: “The IPO comes with strong growth prospects and valuation comfort for investors. Given lower wine penetration in the domestic market and growing demographics such as a rising per capita income and growing target audience, we believe the domestic wine market is on the cusp of exponential growth. Sula is the largest producer and marketer of wine and is well placed to capture the future growth opportunities in the Indian wine market. we assign a “SUBSCRIBE” rating for the issue.”

Swastika Investmart’s report tags ‘subscribe’ to the public release and says, “Sula Vineyards Limited enjoys the advantage of high barriers to entry in this industry. The company has the largest wine distribution network and sales presence. Financial performance is also improving. This the issuance of Sula Vineyard comes in at a P/E valuation of 54.67, which is lower than its peers. However, the issuance is a full offer for sale and low promoter holding is also a concern for risky investors.”

disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. We recommend that investors consult certified experts before making investment decisions.


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