Sula Vineyards Limited to Open on Dec 12. Check IPO Details, Issue Date, Price

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Sula Vineyards Limited to Open on Dec 12. Check IPO Details, Issue Date, Price

December 08, 2022
Sula Vineyards Limited to Open on Dec 12. Check IPO Details, Issue Date, Price

Sula Vineyards Limited is coming out with a fresh public issue to raise Rs. 960.35 crores from the market.

Below are the details of the Sula Vineyards Limited IPO:

  • Issue opens – Dec 12 (Monday)
  • Issue closes – Dec 14 (Wednesday)
  • Issue size – Rs. 960.35 crores
  • Price band – Rs. 340 to 357 per equity share
  • Bid lot – 42 shares and in multiples thereof

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And here are some details of the company and further details on the Sula Vineyards Limited.

Company details:

Sula Vineyards Limited is India’s largest wine producer and seller as of March 31, 2022 (Source: Technopak Report). They have been a consistent market leader in the Indian wine industry in terms of sales volume and value (on the basis of the total revenue from operations) since Fiscal 2009 crossing 50 per cent. The market share by value in the domestic grapes wine market was 100 per cent in Fiscal 2012 (Source: Technopak Report). They are the market leader across all four price segments: ‘Elite’ (INR 950+), ‘Premium’ (INR 700-950), ‘Economy’ (INR 400- 700) and ‘Popular’ (<INR 400). They are also recognized as the market leader across wine variants, including red, white and sparkling wines (Source: Technopak Report). Sula Shiraz Cabernet is India’s largest selling wine by value in Fiscal 2021 (Source: Technopak Report).

  • Their business can be broadly classified under two categories

(i)      the production of wine, the import of wines and spirits, and the distribution of wines and spirits (the “Wine Business”); and

(ii)     the sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms (the “Wine Tourism Business”).

  • They distribute wines under a bouquet of popular brands. In addition to the flagship brand “Sula,” popular brands include “RASA,” “Dindori”, “The source,” “Satori”, “Madera” & “Dia” with its flagship brand “Sula” being the “category creator” of wine in India (Source: Technopak Report). Currently, they produce 56 different labels of wine at four owned and two leased production facilities located in the Indian states of Maharashtra and Karnataka. They serviced close to 8,000 hotels, restaurants and caterers, which makes them the leader in terms of footprint among wine players in India (Source: Technopak Report), and experienced a significant rise in their Off-trade sales in the last 3 years. 

  • They have tie-ups with distributors in Maharashtra, Haryana, Delhi, Goa and Punjab. To that end, they have managed to build the largest distribution network among wine companies in India, with close to 13,000 retail touchpoints across the country in 2021 (Source: Technopak Report). They also have a strong direct to consumer (“D2C”) selling channel primarily through their Wine Tourism Business facilities in Nashik (Maharashtra) and Bengaluru (Karnataka), with the highest number of D2C sales in the Indian wine industry in Fiscal 2021 (Source: Technopak Report).

  • They are the pioneers of wine tourism in India with many firsts to their credit, such as the first wine tasting room in India, the first vineyard resort, the first wine music festival and the first winery tours at their facility in Nashik, Maharashtra (Source: Technopak Report). As part of their Wine Tourism Business, they own and operate two vineyard resorts located at and adjacent to their winery in Nashik, Maharashtra, under “The Source at Sula” and “Beyond by Sula” brand names. They launched the first wine-themed music festival in India, “SulaFest”, at their Nashik facility in 2008.

Issue Size: 960.35 crores

Issue break-up:

  • QIB – 50% of the offer – Rs. 480.17 crores
  • NIB – 15% of the offer – Rs. 144.05 crores
  • RET – 35% of the offer – Rs. 336.12 crores

Listing: BSE and NSE

Registrar: KFin Technologies Limited

UPI: All Retail & NII bidders' (bids up to Rs 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note

· Application made using third party UPI or ASBA Bank A/c are liable to be rejected.      

· The UPI Mandate acceptance time for Retail and NII Bidders (bids up to ? 5,00,000) shall expire at 5:00 PM on the closing day of  the IPO i.e. December 14, 2022. 

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