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Sula Vineyards Will get SEBI Nod to Increase Funds By way of IPO; Know Particulars

Sula Vineyards IPO: Sula Vineyards has gotten the Securities and Alternate Board of India’s (SEBI) approval for its Preliminary Public Providing (IPO). The corporate had filed the draft papers for the general public providing in July this 12 months.

“The difficulty with a face worth of Rs 2 per fairness share is a whole provide on the market (OFS) aggregating to 25,546,186 fairness shares,” a press launch issued by Sula Vineyards acknowledged.

Kotak Mahindra Capital Firm is the co-ordinating lead supervisor for Sula Vineyards IPO. After the IPO, the fairness shares are proposed to be listed on BSE and NSE.

The corporate acquired its statement letter from Sebi on November 3. It filed its draft prospectus with the market regulator on July 18, 2022.

Sula Vineyards IPO: Financials

Sula Vineyards had clocked a revenue of Rs 52.14 crore within the fiscal 12 months 2021-22, as towards Rs 3.01 crore recorded within the earlier 12 months. The corporate’s income from operations had elevated from Rs 417.96 crore in FY21 to Rs 453.92 crore in FY22.

About Sula Vineyards

Sula arrange its first winery in 1996 and, in 2000, it was the primary to introduce varietal wines in India. Presently, the corporate produces 56 totally different labels of wine throughout 13 distinct manufacturers at its 4 owned and two leased manufacturing services positioned in Maharashtra and Karnataka.

Along with producing and promoting wines, the corporate derives income from the hospitality phase via its two wine resorts, Past Sula and the Supply at Sula, positioned in Maharashtra’s Nashik.

As of January, it had a manufacturing capability of over 13 million litre, of which 11 million litre is housed in Nashik and a couple of million litre in Karnataka.
The agency has a dominant market share within the home wine trade, pushed by a diverse huge portfolio of wine manufacturers throughout totally different worth classes and an expansive distribution community.

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