• The IPO is an offer for sale (OFS) where the selling shareholders will offload approximately 2.69 crore equity shares to the public. Subscription to the IPO will be available till December 14.
India's largest wine producer and seller, Sula Vineyards will launch its initial public offering (IPO) on. Subscription to the IPO will be available till December 14. Ahead of the IPO, anchor investors will be allowed to bid on Sula Vineyards on 9 December. The price band of the IPO will be announced in due course.
According to the Red Herring prospectus, the Offer for Sale will consist of 26,900,530 Equity Shares. Since the IPO is purely an OFS, the proceeds will not go to the company. The selling shareholders are promoters Rajeev Samant, investors such as Cofintra SA, Haystack Investments, SAMA Capital III, SWIP Holdings, Verlinvest SA, and Verlinvest France SA.
The other selling shareholder is -- Dinesh G. Vazirani, J.A. Moose, Karishma Singh, Major A.V. Pathak, Narayan Girdhar Chanrai, Ruta M. Samant, and Sanjay Narayandas Kriplani.
The face value of the equity shares in the IPO will be ₹2 per share.
50% of the total IPO size will be allotted for bidding to qualified institutional buyers (QIBs), while 15% will be reserved for non-institutional investors (NIIs) and the remaining 35% will be kept for retail individual investors.
Kotak Mahindra Capital Company, CLSA India and IIFL Securities are the book-running lead managers to the IPO. Kefin Technologies is the registrant to the Offer.
Sula Vineyards has been a consistent market leader in the Indian wine industry. Sula has made remarkable progress in more than a decade. In the 100% grape wine category, the company's market share by revenue increased from 33% in FY09 to 52% in FY20 and 52.6% in FY21.
Presently, the company produces 56 different labels of wines across 13 district brands at its four owned and two leased production facilities located in Maharashtra and Karnataka.
In FY22, the company's revenue from operations was ₹4,539.16 million with a net sales margin1 of 69.83% and a profit after tax of ₹521.39 million in the same period.
In the first half of FY23, the company's revenue stood at ₹2,240.68 million with a net sales margin of 74.32% and a profit after tax of ₹305.06 million.
In its strategies going forward, the company will continue to focus on its own brands over third party brands that it imports and distributes. In addition, the company will continue to enjoy
Its distribution capability to launch new products. At the same time, they will increase the awareness and consumption of wine and increase their penetration in Tier-1 and Tier-2 cities of India.
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