IPO of wine making company Sula Vineyards opens from today: know GMP and details

Sula Vineyards IPO: The IPO of Sula Vineyards, the largest wine maker in the country, has opened for investment from today. The Sula Vineyards IPO will be open for investment from December 12 to 14, 2022. The company is going to raise Rs 960 crore from the market through IPO.

What is price band

Sula Vineyards has fixed the IPO price band at Rs 340 to Rs 357. The IPO will be open from 12 to 14 December. The share will be listed on the National Stock Exchange and BSE on December 22, 2022. Sula Vineyards is going to sell 2.69 crore shares in IPO under offer for sale. The investors of the company are selling their shares in the IPO. That is, all the amount coming in the IPO will not be received by the company but will go to the shareholders. The company has raised Rs 288.10 crore from anchor investors on 9 December.

Trade at a premium in the gray market

News Reels

According to IPO Watch, the share of Sula Vineyards is trading at a premium of Rs 40 in the gray market. That is, according to this the share can be listed around Rs.400.

Listing of wine company on stock exchange

The purpose of bringing the IPO of the company is to get it listed on the stock exchange as well as existing investors can sell their stake. If Sula Vineyards gets listed on the stock exchange, it will be the first wine making company in the country to be listed on the stock exchange. Sula Vineyards is one of the leading companies in the field of wine tourism. Two wine resorts are also present in Nashik, Maharashtra.

Sula Vineyards Financials

In 2021-22, the revenue of Sula Vineyards was Rs 453.92 crore while the profit was Rs 52.14 crore. In 2020-21, the revenue was Rs 417.96 crore and the profit was Rs 3.01 crore. 1996 The company was established. Sula Vineyards produces 56 varieties of labeled wine under 13 brand names. The company is one of the giants in the wine market. Kotak Mahindra Capital, CLSA India and IIFL Securities are the book running lead managers to the IPO.

Brokerage House Opinion

Choice Broking and Canara Bank Securities have advised to subscribe to the IPO. However, some brokerage houses believe that the low holding of the promoter is a cause for concern, in which case only high-risk investors should invest in IPOs.

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