Sula Vineyards Limited IPO
Sula Vineyards Limited IPO
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Sula Vineyards Limited's successfully transitioned to public market status with its listing on NSE, BSE on 22-12-2022. The IPO mobilized 2,69,00,530 Shares in cumulative capital, including TBD for corporate expansion and ₹960.35 Cr for shareholder liquidity management.
The public offering was conducted within the price parameters of ₹340 to ₹357, with minimum investment lots of 42 shares. subscription activity between 12-12-2022 and 14-12-2022 demonstrated market reception to the company's valuation and growth narrative.
The allotment process concluded on 19-12-2022, finalizing share distribution to successful bidders. The listing represents a transformational event, providing the company with enhanced market visibility, regulatory compliance framework, and access to diversified investor capital.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Sula Vineyards IPO About Company
Incorporated in 2003, Sula Vineyards Limited is India’s largest wine producer and seller as of March 31, 2022, offering popular brands such as RASA, Dindori, The Source, Satori, Madera, Dia, and its flagship brand Sula, which is considered the category creator in the Indian wine industry. The company operates in two major segments—the Wine Business, which includes wine production, import and distribution of wines and spirits, and the Wine Tourism Business, which covers vineyard resorts and tasting rooms. Sula produces 56 wine labels across four owned and two leased facilities in Maharashtra and Karnataka, and has built the country’s largest wine distribution network with nearly 13,000 retail touchpoints in 2021. It also benefits from a strong D2C channel driven by its wine tourism centers in Nashik and Bengaluru, supported by long-term grape supply agreements covering about 2,290 acres. As of September 30, 2022, its distribution ecosystem included 50+ distributors, 11 corporations, 14 licensed resellers, 7 depots, 3 defence units, and over 23,000 points of sale, while its sales team comprised 141 permanent employees.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sula Vineyards IPO Strength Factors
NA
Sula Vineyards IPO Risk Factors
NA
Sula Vineyards IPO Lead Manager(s)
- Kotak Mahindra Capital Company
- Clsa India Private Limited
- IIFL Securities Limited
Sula Vineyards IPO Promoter(s)
- Rajeev Saman
Sula Vineyards IPO FAQs
Sula Vineyards Limited IPO subscribed 2.33 times. The public issue subscribed 1.73 times in the retail category,4.34times in QIB, and 1.77 times in the HNI (10+) category byNovember 24, 2025 8:15:42 AM (Day 24).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sula Vineyards IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Sula Vineyards IPO FAQs
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