Sula Vineyards IPO: GMP, Subscription Status, Other Details

Check the current Sula Vineyards IPO subscription status, the Sula Vineyards IPO GMP, and other details.

<div class="paragraphs"><p>Source: Twitter&nbsp;@sula_vineyards</p></div>
Source: Twitter @sula_vineyards

India’s leading winemaker Sula Vineyards’ initial public offering (IPO) hit the markets on Monday, December 12, 2022, and is open for subscription till Wednesday, December 14, 2022. With this IPO, which is a complete offer for sale (OFS), Sula is expecting to raise up to ₹960 Crore. The company has fixed the price band for the Sula Vineyards IPO at ₹340-₹357 per share. To place a bid for the Sula Vineyards IPO, a bidder will need to apply for a minimum of 42 shares of the company, and in multiples thereof. 

Let us understand more about the Sula Vineyards IPO, its GMP and current subscription status. 

Sula Vineyards IPO

The Sula Vineyards IPO is an offer for sale of 26,900,532 equity shares by the company’s promoter, investors and other shareholders. These include Rajeev Samant, Cofintra SA, Saama Capital III, Haystack Investments, SWIP Holdings, Verlinvest SA Verlinvest France SA, and others.

Sula Vineyards IPO GMP

As per market observers, the Sula Vineyards shares are trading at a grey market premium (GMP) of ₹34 today. On Sunday, December 11, 2022, the Sula Vineyards IPO GMP was ₹24. This means that the share price of Sula Vineyards has surged ₹10 in the grey market today. Sula Vineyards is expected to list its stocks on the leading exchanges, the Bombay Stock exchange (BSE) and the National Stock Exchange (NSE), on Thursday, December 22, 2022.

Sula Vineyards IPO Subscription Status

On the first day of bidding the Sula Vineyards IPO was subscribed 0.28 times. The company received bids for 52.34 Lakh equity shares against 1.88 Crore shares on offer. The company has reserved half of the offer for qualified institutional buyers, 15% for high net-worth individuals, and the remaining 35% for retail investors.

The retail investors and high net-worth individuals (HNI) category were active on the first day of subscription, bidding for 48% and 18% of their allocated quotas respectively. However, the qualified institutional buyers (QIB) category did not receive any bids on December 12, 2022.

Suggested Read: Sula Vineyards IPO Subscription Status: Day 2 Live Updates

Sula Vineyards IPO Important Dates

The Sula Vineyards IPO will remain open for subscription from December 12, 2022, till December 14, 2022. The company is expected to finalise the basis of share allotment by December 19, 2022, and credit the allotted shares on December 21, 2022. The Sula Vineyards shares are expected to debut on the stock exchanges on December 22, 2022.

Disclaimer: The above data has been recorded at the time of writing and is liable to change. Investors are advised to invest at their own discretion.