New Delhi: The initial public offering (IPO) of Sula Vineyards received 28 per cent subscription on the first day on Monday. The leading wine producer's IPO received bids for 52,34,670 shares against 1,88,30,372 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) was subscribed 48 per cent and that of non-institutional investors 18 per cent.
Sula Vineyards IPO Listing, GMP and other details
The issue, with a price band of 340-357 per share, will likely list on BSE and NSE on December 22 wile the tentative date of share allotment will be announced on December 19. As per reports, the Sula Vineyards latest GMP suggests a premium of Rs 34. (Also read: State Bank of India hikes FD rates, new rates applicable from today 13 December)
The capital was raised 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. 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 and and HDFC MF were also among the anchor investors. (Also read: Will govt remove image of Mahatma Gandhi from Indian Currency notes?)
The public issue will be entirely an offer for sale (OFS) aggregating to 26,900,532 equity shares by the promoter, investors and other shareholders.
Sula Vineyards has been recognised as the market leader across wine variants, including red, white and sparkling wines. The company distributes wines under a bouquet of popular brands such as Sula (its flagship brand), RASA, Dindori, The Source, Satori, Madera & Dia.
