Sula Vineyard Shares End At 7.24% Discount To IPO Price

Shares of Sula Vineyards Ltd. ended at a discount of 7.24% to the IPO price while declining 7.50% from its listing price to end at Rs 331.15.

The country's largest winemaker launched its initial public offering between Dec. 12 and Dec. 14.

Shares of Sula Vineyards are listed at Rs 358 apiece on the BSE Ltd., a premium of 0.28% to its IPO price of Rs 357 apiece. On the National Stock Exchange of India Ltd., the stock debuted at Rs 361—a 1.12% premium.

The company listed its 8.42 crore equity shares with a face value of Rs 2 on the exchanges. The maiden share sale was subscribed 2.33 times on the final day. The QIB category was subscribed 4.13 times, the non-institutional investors 1.51 times, and the retail portion 1.65 times.

Sula is the country's largest wine producer and seller as of FY22, having been the market leader in the Indian wine industry in terms of sales volume and value—on the basis of total revenue from operations—since fiscal 2009, crossing 50% market share by value in the domestic market.