Sula Vineyards IPO: Sula Vineyards’ initial public offering (IPO) will be made available to the public on Monday. As of March 31, 2022, the company is India’s largest wine producer and seller. The company said that it has kept its IPO pricing range of Rs 340-357. Through this IPO, the company hopes to raise Rs 960 crore. This IPO will go on sale from December 12 and close on December 14.
Sula Vineyards IPO details
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- The IPO is projected to raise Rs 960.35 crore at the highest price band.
- Those selling shares under the OFS include promoter, founder and CEO Rajeev Samant and investors such as Cofintra, Haystack Investments Ltd., SAMA Capital III, Ltd., SWIP Holdings Ltd., Verlinvest SA and Verlinvest France SA.
- The IPO lot size for Sula Vineyards is 42 shares. A retail investor may request up to 13 lots.
- This indicates that a maximum of 546 shares or Rs 194,922 can be purchased.
- Kotak Mahindra Capital Company, CLSA India and IIFL Securities are the book running lead managers. It is proposed to list the Equity Shares on BSE and NSE.
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Six important thing you should know before buying Sula Vineyards IPO
- Sula Vineyards was one of the fastest growing alcohol beverage companies in India as of March 31, 2021, with a CAGR of 13.7% between fiscal years 2011 and 2022.
- Sula Vineyards produces 56 different wine labels, including the flagship brand Sula, RASA, Dindori, The Source, Satori, Madera, and Dia.
- Sula Vineyards has established the country’s largest wine distribution network, with nearly 13,000 retail touchpoints by 2021.
- The company has a strong direct-to-customer channel through its Wine Tourism Business facilities in Nashik and Bengaluru. Sul Vineyards has entered into long-term supply agreements (of up to 12 years) with grape growers for approximately 2,290 acres as of September 30, 2022, according to Chittorgarh.
- As of September 30, 2022, the company had 141 permanent sales employees.
- As of September 30, 2022, Sula Vineyards’ distribution platform consists of 50 distributors, 11 corporations, 7 company depots, and 3 defence units. According to Chittorgarh, the company also has over 23,000 points of sale (including 13,500 retail touchpoints and over 9,000 hotels, restaurants, and caterers) as of March 31, 2022.
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