Coming Soon: Sula Vineyards IPO as the Company Files Documents with SEBI; Price, Dates, and Importan



The largest wine producer in India, Sula Vineyards, has submitted draught papers to SEBI, the market regulator, to seek money through an initial public offering. Up to 25,546,186 shares may be offered for sale in the Sula IPO, with the selling shareholders receiving 100% of the sale price. The Nashik-based company has stated that the shares have a face value of Rs 2 each, albeit the timing and pricing of the IPO have not yet been determined.

In India, a pure play wine manufacturer has never before submitted an IPO application. The Sula Vineyards IPO is also the second recent instance of a company in the alcohol and spirits industry filing documents for such an offering. Allied Blenders & Distillers, the manufacturer of Officers Choice whiskey, submitted their Draft Red Herring Prospectus, or DHRP, to Sebi in June.


The wine company, which has its headquarters in Nashik, Maharashtra, has the support of Belgian family office Verlinvest, a major shareholder with a consumer-focused strategy. Through the Sula IPO, Verlinvest and Verlinvest France would sell up to 7,191,835 and 4,990,920 equity shares in the business, respectively. Rajeev Samant, managing director and CEO of the wine company, will instead make a public offering of up to 1,171,504 shares.

"The DRHP has been electronically submitted to Sebi. Verlinvest and the promoter group are two of the largest selling stockholders in the OFS component of the IPO, according to a source who spoke to Moneycontrol earlier. Contra, another significant promoter, will sell up to 7,191,835 equity shares via the Sula Vineyards IPO.

The firm, acting through the IPO committee, will choose the price range and the minimum bid lot after consulting with the book running lead.


management and will be promoted in publications at least two days before the offer's official start date.


According to the company's DHRP, the offer's objectives are to: carry out the selling shareholders' offer to sell up to 25,546,186 equity shares; and reap the benefits of listing the equity shares on stock markets.


The Sula IPO's book-running lead managers are IIFL Securities, Kotak Mahindra Capital, and CLSA India. KFinTech, on the other side, is the issue's registrar.

The majority of the wine grapes grown for the company's operations are farmed in the west and southwest states of India. Our flagship facility is in Nashik, Maharashtra, and our wine processing units are in Bengaluru and Basavakalyan in Karnataka, as well as Nashik and Dindori in Maharashtra, in the west and southwest of India. Due to its extensive wine selection, Sula has a significant market share in the local wine sector.


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