Ahead of the IPO, Sula Vineyards on Friday said it has raised Rs 288 crore from anchor investors. The company has decided to allot 80,70,158 equity shares to anchor investors at Rs 357 apiece, aggregating to Rs 288.10 crore, it added.
New Delhi: The initial public offering of winemaker Sula Vineyards is kicking off today. The three-day initial public offering for Sula Vineyards will open on Monday for subscription and the firm has fixed the price band at Rs 340 to Rs 357 per share. The issue will conclude on December 14. At the higher end of the price band, the IPO is expected to fetch Rs 960.35 crore. Investors can bid for a minimum of 42 equity shares and in multiples thereafter.
Read More: How to reapply for a PAN Card
Ahead of the IPO, Sula Vineyards on Friday said it has raised Rs 288 crore from anchor investors. The company has decided to allot 80,70,158 equity shares to anchor investors at Rs 357 apiece, aggregating to Rs 288.10 crore, it added.
As per market observers, Sula Vineyards shares are fetching a premium of Rs 34 in grey market today.
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.
Read More: PAN card to get inactive from April 1 if not linked to Aadhaar
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.
