Sula Vineyards IPO: Leading wine producer Sula Vineyards has raised Rs 288 crore from Anchor Investors before the Initial Public Offering (IPO). According to a circular uploaded on the BSE website, the company has allotted 80,70,158 equity shares at Rs 357 per share to anchor investors, aggregating to Rs 288.10 crore.
Fund raised from 22 anchor investors
Sula Vineyards has raised Rs 288 crore from 22 anchor investors. Anchor investors include BNP Paribas Arbitrage, Morgan Stanley (Asia) Singapore Pte Ltd, Citigroup Global Markets Mauritius Pte Ltd, Goldman Sachs and Abu Dhabi Investment Authority.
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Apart from this, ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, Aditya Birla Life Insurance Company, Max Life Insurance Company, Aditya Birla Sun Life Mutual Fund (MF), SBI MF ( SBI MF) and HDFC MF were also among the anchor investors.
Sale of 26,900,532 equity shares
The public issue will be an Offer for Sale (OFS) of a total of 26,900,532 equity shares by promoters, investors and other shareholders entirely. Those selling shares through the OFS route 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.
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Sula Vineyards IPO price band
The price band of Sula Vineyards IPO is Rs 340-357 per share. The issue will open for subscription on December 12, 2022 and will close on December 14, 2022. The company is expected to garner Rs 960.35 at the upper end of the price band.
The lot size of the IPO is 42 shares. Investors will have to invest Rs 14994 for one lot. Retail investors can bid for a maximum of 13 lots.
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Sula Vineyards is the market leader in all wine variants including red, white and sparkling wines. The major brands of the company are RASA, Dindori, The Source, Satori, Madera & Dia.
Presently the company produces 56 different labels of Wine in Maharashtra and Karnataka. The company manufactures 13 brands of wine in its four and two leased plants.
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Sula Vineyards Profits
The Nashik-based winemaker’s profit after tax rose manifold to Rs 30.51 crore in the six months ended September 30, 2022, from Rs 4.53 crore a year ago. Its revenue from operations for the six months ended September 30, 2022 grew by 40.8% to Rs 224.07 crore from Rs 159.15 crore recorded in the same period last fiscal.
In 2018, Reliance Corporate Advisory Services, a wholly owned subsidiary of Reliance Capital, sold 19.05 per cent stake in Sula Vineyards for Rs 256 crore
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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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