First Published Dec 12, 2022, 11:09 AM IST
India’s largest wine producer, Sula Winevat Ltd. is launching its IPO from today. 14th is the last date to buy shares.
Sula Wine Company has been operating well in the Indian wine industry since 2009. Sula Wine Company is performing well in terms of wine production, sales and revenue.
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In the grape wine segment, Sula Wine Company, which had captured 33 percent of the market in 2009, has now increased to 52 percent. It produces wines in Elite (Rs 950), Premium (Rs 700 to Rs 950), Economy (Rs 400 to Rs 700) and Popular (below Rs 400) categories. Sula Wines holds a 61 percent stake in the elite and premium segment.
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Sula Wine Company plans to raise Rs 960 crore through its IPO in the stock market today. For this, Sula Wine Company is going to sell 2.69 crore shares. The price of each share is fixed at Rs.340 to Rs.357.
Sula Wine Company’s IPO sale begins today and ends on the 14th and will list the shares on the stock market on the 22nd. The IPO was issued to anchor investors on the 9th, raising Rs 288.10 crore, 80.70 lakh shares were allotted to anchor investors.
Shares of Sula Wines are also priced well in the gray market. While the price of a share is stable at Rs 340 to Rs 357, it is selling at Rs 40 higher in the gray market.
After the IPO sale, the shares will be allotted to the shareholders on the 19th, and it will be listed on the stock market from the 22nd, Sula Vineyard Company said.
An investor can apply for IPO in one lot and retail investors can apply for a maximum of 13 lots. A lot is a set of 42 shares.
Last Updated Dec 12, 2022, 11:09 AM IST