Sula Vineyards raises Rs 288 cr from anchor investors ahead of IPO

Sula Vineyards raises Rs 288 cr from anchor investors ahead of IPO

Sula Vineyards has raised Rs 288 crore from anchor investors before its initial public offering. The company has decided to allot 80,70,158 equity shares to anchor investors at Rs 357 apiece, amounting to Rs 288.10 crore.

The capital was raise from 22 investors, including BNP Paribas Arbitrage, Morgan Stanley (Asia) Singapore Pte Ltd, Citigroup Global Markets Mauritius Pvt Ltd, Goldman Sachs and Abu Dhabi Investment Authority.

Sula Vineyards is pleased to announce that it will be going public with an initial public offering (IPO) of 26,900,532 equity shares. The IPO will be open for subscription from December 12-14, with a price band of Rs 340-357 per share. The company is expecting to raise Rs 960.35 crore at the higher end of the price band.

Sula Vineyards is the market leader in various types of wine, including red, white and sparkling wines. The company distributes its wines under a number of popular brands, such as Sula (its flagship brand), RASA, Dindori, The Source, Satori, Madera & Dia.

About Sula Vineyards:

Sula Vineyards is the largest wine producer in India, and it has consistently been the market leader in terms of sales and volume. It’s also the most visited vineyard, with approximately 368,000 people visiting it in 2020. Sula is the market leader across all four price segments: ‘Elite’ (INR 950+), ‘Premium’ (INR 700-950), ‘Economy’ (INR 400-700), and ‘Popular’ (INR<400).

It’s also a market leader across wine variants, including red, white, and sparkling wines. Recently, it added a new segment of Wine Tourism business, which includes vineyard resorts and tasting rooms. The resorts under “The Source at Sula” and “Beyond by Sula” brand names have room capacities of 57 and 10 respectively, and they’re located in Nasik. The tasting room named “Domaine Sula” is located in Karnataka. Additionally, Sula Vineyards hosts India’s and Asia’s largest wine music festival.

Sula Vineyards IPO Important Dates:

Opening Date12 December 2022
Closing Date14 December 2022
Basis of Allotment19 December 2022
Initiation of refunds20 December 2022
Transfer of shares to demat accounts21 December 2022
Listing Date22 December 2022

Sula Vineyards IPO Details

Sula Vineyards Limited IPO Price₹340 to ₹357 per share
Lot Size42 Shares
Minimum Amount for 1 lot₹14,994
Total IPO size₹960.35 crore
Offer for Sale2,69,00,530 shares
Listing At
Retail Quota35%
QIB Quota50%
NII Quota15%
DRHP Draft ProspectusClick Here
RHP Draft ProspectusClick Here

Objective of the Issue:

  • The company will not receive any proceeds of the Offer for Sale by the Selling Shareholders.

Company Financials:

(Amount in ₹ Crore)

Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthTotal Borrowing

Cash Flow:

Particulars (in Rs. Crores)FY22FY21FY20
Net cash generated from / (used in) operating activities87.4119.544.7
Net cash from / (used in) investing activities-56.8-21.7-44.0
Net cash flow from / (used in) financing activities-61.3-94.533.4
Net increase (decrease) in cash and cash equivalents-30.63.434.0

EPS, PE Ration, NAV:

Earning Per Share (EPS):₹6.53 per Equity Share
Price/Earning P/E Ratio:N/A
Return on Net Worth (RoNW):11.45%
Net Asset Value (NAV):₹55.34 per Equity Share

Peer Comparison:

Name of the CompanyTotal Income (in Rs. crores)Basic EPSCMP Rs. per sharePERoNW%
Sula Vineyards Limited453.926.5355.34NA11.45%
United Spirits Limited31,061.8011.6867.0976.1416.63%
Radico Khaitan Limited12,470.5019.7149.4653.3613.18%
United Breweries Limited13,123.9213.82148.99119.839.29%

Company Promoters:

  • Rajeev Samant

IPO Registrar:

KFin Technologies Limited

Phone: 04067162222, 04079611000

Company Contact Information:

Sula Vineyards Limited
901, Hubtown Solaris,
N.S. Phadke Marg,
Andheri (East), Mumbai 400 069 Maharashtra
Phone: +91 22 6128 0606

Sula Vineyards Limited IPO Offer Lead Manager:

(1) Kotak Mahindra Capital Company Limited
27 BKC, C-27, G Block,
Bandra Kurla Complex,
Bandra(E), Mumbai 400051

Phone: +91-22-4336 0000
Fax: +91-22-6713 2445

(2) CLSA India Private Limited
8/F Dalamal House
Nariman Point
Mumbai – 400 021

Phone: +91 (22) 6650 5050
Fax: +91 (22) 2284 0271

(3) IIFL Securities Ltd
Kamala City, Senapati Bapat Marg,
Lower Parel (West),
Mumbai – 400013

Phone: 022-40071000

Sula Vineyards Limited IPO GMP today

Sula Vineyards Limited IPO grey market premiumSubject to SaudaListing Gain

Sula Vineyards IPO Review:

What our experts say about Sula Vineyards Limited IPOApply

Sula Vineyards IPO Subscription Status live:

Investor CategorySubscription (times)
Qualified Institutions4.13
Non-Institutional Buyers1.51
Retail Investors1.65

Sula Vineyards Limited IPO Subscription Details (times):

Day 1
Dec 12, 2022
Day 2
Dec 13, 2022
Day 3
Dec 14, 2022

Sula Vineyards IPO Allotment Status:

Check Sula Vineyards IPO Allotment StatusClick Here

Sula Vineyards IPO Listing Price:

IPO Price Band


  1. When will Sula Vineyards IPO open for subscription?

    Sula Vineyards IPO is set to open on 12 December 2022.

  2. What is Sula Vineyards IPO Price Band?

    Sula Vineyards Limited IPO Price Band is ₹340 to ₹357 per share.

  3. What is the lot size of Sula Vineyards IPO?

    Lot size of Sula Vineyards Limited IPO is 42 Shares per lot.

  4. What is the issue size of Sula Vineyards IPO?

    Sula Vineyards Limited IPO issue size is ₹960.35 crore.

  5. What is the last date to apply for Sula Vineyards IPO?

    Last date to apply Sula Vineyards Limited IPO is 14 December 2022.

  6. What is the Sula Vineyards IPO Allotment Date?

    Allotment Date for Sula Vineyards Limited IPO is 19 December 2022.

  7. What is the Sula Vineyards IPO listing date?

    Listing Date for Sula Vineyards Limited IPO is 22 December 2022.

  8. Sula Vineyards IPO should I buy?

    Yes, you should buy Sula Vineyards Limited IPO.

How to apply Sula Vineyards IPO through 5 Paisa?

  1. Login to your 5paisa account and select “Sula Vineyards IPO” in the current IPO section.
  2. Enter the number of lots and price at which you wish to apply for the IPO.
  3. Enter your UPI ID and click on submit.
  4. You will receive a mandate notification to block funds in your UPI app.
  5. Approve the mandate request on your UPI and funds will be blocked

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