Listing of shares of wine maker Sula Vineyards remained flat, shares listed at Rs 358 with only 0.28 per cent premium on BSE

highlights

The Rs 960 crore IPO of Sula Vineyards opened between December 12-14.
The subscription to the issue of Sula Vineyards was not very good.
It was fully subscribed on the last day and received bids of 2.33 times.

new Delhi. The listing of shares of India’s largest wine maker Sula Vineyards remained flat. The company’s shares were listed at Rs 358 on BSE with a premium of just 0.28 per cent. On the other hand, the shares of Sula Vineyards are listed at Rs 361 on the NSE with a premium of 1.12 per cent. The issue price of the company is Rs.357. Let me tell you, the subscription to the issue of Sula Vineyards was not very good.

The company’s issue was subscribed only 2.33 times in three days. Gray Market Premium (GMP) was also trading at Rs 346, down Rs 11 from the issue price of Rs 357, a day before the listing. The public issue of the company was a fully offer-for-sale, which means that the company No income was received from it and the money went to the selling shareholders.

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IPO was open between 12-14 December
At the same time, let us tell you that the Rs 960 crore IPO of Sula Vineyards was opened between 12-14 December. Due to having a good hold in the country’s wine market, it was being speculated that it would get a good subscription, but when the issue opened, it was fully filled on the last day itself. It was subscribed only 28 percent on the first day and 59 percent on the second day. It was fully subscribed on the last day and received bids of 2.33 times.

About the company and its business
Please inform that Sula Vineyards is a wine company from Nashik. The company manufactures wine as well as imports wine and spirits and sells them in the country. As of March 2022, Sula has more than 23,000 points of sale across the country including 13,500 retail touchpoints and more than 9,000 hotels, restaurants and caterers. Maharashtra and Karnataka account for 50 per cent of the company’s wine segment revenue.

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