Sula Vineyards IPO To Open On December 12, 2022: Check GMP Ahead Of Subscription

The Sula Vineyards IPO will open for subscription on Monday, December 12, 2022, and will close on Wednesday, December 14, 2022.

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

Winemaker Sula Vineyards is all set to go public with its three-day initial public offering (IPO). The Sula Vineyards IPO will open for subscription on Monday, December 12, 2022, and will close on Wednesday, December 14, 2022. The offer will be open for bidding for anchor investors on Friday, December 9, 2022. The price band for this IPO has been fixed at ₹340-₹357 per share. 

Let’s understand more about the Sula Vineyards IPO and its GMP ahead of subscription.

Sula Vineyards IPO

The Sula Vineyards IPO is a complete offer for sale (OFS) of 26,900,532 equity shares by the company’s promoter, investors and other shareholders. At ₹357 per share, which is the upper end of the price band, the Sula Vineyards IPO is expected to fetch ₹960 Crore.

Sula Vineyards IPO GMP

As per market observers, the shares of Sula Vineyards shares are trading at a grey market premium (GMP) of ₹43 today. Sula Vineyards is expected to list its shares on the Bombay Stock exchange (BSE) and the National Stock Exchange (NSE) on Thursday, December 22, 2022.

About Sula Vineyards

As on March 31, 2022, Sula Vineyards Limited is India's largest wine producer and seller. The company was incorporated in 2003. Apart from the Sula brand name, the winemaker also distributes wines under various other brands including Dindori, RASA, Satori, etc. 

Currently, Sula Vineyards produces 56 labels of wines across 13 brands. These wines are produced at its 4 owned and 2 leased production facilities which are located in Maharashtra and Karnataka. With close to 13,000 retail touchpoints across India in 2021, Sula Vineyards has built the largest distribution network among wine companies in the country.

Sula Vineyards- A Creator Of Many ‘Firsts’

In the fiscal year 2005, Sula Vineyards launched India’s first wine-tasting room at its winery in Nashik (Maharashtra), which was followed by the first vineyard resort in the country in 2008. In the same year, Sula launched the first-ever wine-themed festival in India at its Nashik facility. This festival was called ‘Sula Fest’.

Kotak Mahindra Capital Company, CLSA India and IIFL Securities are the book-running lead managers for the Sula Vineyards IPO and KFin Technologies is the registrar.

Also Read: Sula Vineyards' CEO Rajeev Samant on the winemaker's listing plans

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.