India’s largest and most awarded wine model, Sula Vineyards has filed its draft prospectus with market common Sebi to launch its preliminary public providing (IPO). Sula IPO has been in information since final month. The general public providing will likely be solely in supply on the market (OFS) beneath which shareholders like promoters, traders, and others will take part.
The shareholders plan to dump 25,546,186 fairness shares by means of the OFS route within the IPO. These shareholders are – promoter, founder, and CEO Rajeev Samant together with traders akin to Cofintra, Haystack Investments Restricted, Saama Capital III, Ltd, SWIP Holdings Restricted, Verlinvest S.A, and Verlinvest France S.A.
For the problem, Kotak Mahindra Capital Firm, CLSA India, and IIFL Securities are appearing because the book-running lead managers, reported by PTI.
In 2018, Reliance Company Advisory Providers, a wholly-owned subsidiary of Reliance Capital, divested its 19.05% stake in Sula Vineyards for ₹256 crore.
Sula over the past twenty years has grown and established itself as a pioneer, innovator, and chief within the Indian wine business.
The corporate’s in depth wine portfolio spans a variety of merchandise comprised of about 15 totally different grape varieties. Its principal wine classes embody RASA, The Supply, Dindori Reserve, Sula Classics, and York.
In its sustainability report for FY22, Sula revealed that its manufacturing capability stood at 14.5 million litres. Additional. the circumstances offered had been roughly 9 lakh of its personal wines. Additionally, 2.5 lakh guests toured their wine services.
In fiscal FY22, the corporate posted income from operations of ₹453.92 crore rising by 8.60% from ₹417.96 crore within the earlier fiscal. Its revenue after tax climbed multi-folds to a whopping ₹52.14 crore in FY22 in comparison with merely ₹3.01 crore in FY21.
Sula has made outstanding progress in over a decade. Within the 100% grapes wine class, the corporate’s market share on the idea of income, elevated from 33% in FY09 to 52% in FY20 and additional to 52.6 in FY21.
At current, the corporate produces 56 totally different labels of wines throughout 13 district manufacturers at its four-owned and two leased manufacturing services which might be located in Maharashtra and Karnataka.
The Sula shares will likely be listed on BSE and NSE after the general public supply.
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Supply: Live Mint