Sula Vineyards Ltd., India's largest winemaker, witnessed retail investors lead the demand for its initial public offering.
The Rs 960.3 crore IPO was subscribed 59% on the second day and 28% on the first day of subscription.
This initial stake sale includes an offer for sale of 2.69 crore equity shares by the promoter group and selling shareholders, according to the red herring prospectus filed with SEBI. The price band stands in the range of Rs 340 to Rs 357 per equity share.
Also Read: Sula Vineyards IPO: All You Need To Know
The promoters and the promoter group will hold 27.3% of the post-offer issued and paid-up equity stake after the IPO.
The offer for sale comprises 31.95% of the post-offer equity capital in the IPO.
Sula Vineyards allotted 80.7 lakh equity shares at Rs 357 per share to anchor investors ahead of the initial stake sale, as per a BSE circular. This aggregates to Rs 288.09 crore.
Meanwhile, the company will not receive any proceeds from the offering, it said in its red herring prospectus.
Subscription Status: Day 3
The IPO was subscribed 2.33 times as of 7:00 p.m. on Dec. 14.
Institutional investors: 4.13
Non-institutional investors: 1.51 times
Retail investors: 1.65 times
Research Reports On Sula Vineyards:
Watch BQ Prime's IPO Adda With Sula Vineyards Management:
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