Sula Vineyards IPO: SEBI approves IPO of Sula Vineyards, DRHP filed in July

Sula Vineyards IPO: Sula Vineyards IPO, a domestic wine maker, is about to come out. The stock market regulator SEBI (Securities and Exchange Board of India) has approved the company to bring IPO (Initial Public Offering). The company had filed a draft paper (DRHP) with SEBI to bring the IPO in July this year.

Sula Vineyards will issue 25,546,186 equity shares with an equity share of Rs 2 each through an offer for sale. Offer for sale means that the promoters and investors of the company will sell their stake through IPO. Kotak Mahindra Capital, CLSA India and IIFL Securities are the book running lead managers of the IPO while KFin Technologies is the registrant of the IPO. The shares of Sula Vineyards will be listed on BSE and NSE.

In 2021-22, the revenue of Sula Vineyards was Rs 453.92 crore while the profit of the company was Rs 52.14 crore. At the same time, the company’s revenue in 2020-21 was Rs 417.96 crore while there was a profit of Rs 3.01 crore. The company was established in 1996. Sula Vineyards produces 56 types of labeled wines under 13 brand names. The company is one of the giants in the wine market. The company has four own and two leased plants in Maharashtra and Karnataka. The company’s two wine resorts are also present in Nashik.

SEBI has also approved Sah Polymers to bring IPO. The company had filed the draft paper in April 2022. The company will issue 1,02,00,000 equity shares in the IPO which will be a completely fresh issue. With the money raised from the IPO, the company will invest in new projects along with paying off the debt.

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