Sula Vineyards Ltd IPO Opens Today: Price, GMP And Review
Sula Vineyards Ltd (SVL) is India’s biggest wine producer and retailer at the time of its March 31st 2022. You may subscribe to this IPO between 12-14 December.
Sula Vineyards Ltd (SVL) has been a constant leading market player within the Indian wine business in terms of quantity in addition to value (based on total operating revenue) since the year 2009.
The company has steadily increased its market share (in terms of revenue) of 33 percent during FY09 for the 100 percent grapes category up to 52 percent value by FY22.
SVL holds the lead in the marketplace in the four price segments “Elite” (Rs 950 and above) and “Premium” (Rs 700-950) and Economy (Rs 400-700) and “Popular” (<Rs 400).
Also Read: Top 10 Best Beer Brands In India To Chill Your Weekends
SVL is the pioneer in travel and tourism based on wine in India with numerous firsts to its name like the first tasting room for wine in India and its first resort for vineyards as well as the first ever wine music event, as well as the very first winery tours offered at its facility located in Nashik, Maharashtra
It is an offer to sell as much as 2.69 crore shares through selling shareholders within the price band of 350-357 per share.
The company is hoping to collect an amount of Rs 960 crore at the top in the price range.
The offer will be open for registration on 12 December and the last day to subscribe is on December 14. The company’s shares will go public on the stock exchanges on the 22nd of December.
The company, on the 9th of December had already raked in the sum of Rs 288.10 billion from anchor investors ahead of its public offering.
The company had also finalized the distribution to 80.70 million shares for anchor investors near the top end of the price range.
The goal in the proposal is to execute the offer for sale and gain the advantages of listing the Equity Shares in the Stock Exchanges.
The company won’t receive any profits from the offer and the proceeds of the sale will be distributed to the shareholders who sold shares.
The shares of the company are trading at a price of around 40 dollars per share on the market known as gray, as per IPO Watch, which tracks the gray market’s movements.
Based on IPO Central, another platform which tracks the market for gray markets, the present price offered to shareholders is around Rs 35 per share.
