IPO: Sula Vineyards shares make tepid market debut; list at over 1% premium – Times of India


NEW DELHI: Shares of Sula Vineyards on Thursday made a tepid market debut, listing with a premium of just over 1 per cent on the NSE, against the issue price of Rs 357. The stock listed at Rs 358, marginally higher by 0.27 per cent from the issue price on the BSE. It later hit a high of Rs 363.40 and low of Rs 339.
At the NSE, it made its debut at Rs 361, climbing 1.12 per cent.
The company commanded a market valuation of Rs 2,920.01 crore on the BSE.
The initial public offer of Sula Vineyards got subscribed 2.33 times last week.
The Rs 960.35-crore initial share-sale had a price range of Rs 340-357 a share.
The company distributes wines under a bouquet of popular brands such as Sula (its flagship brand), RASA, Dindori, The Source, Satori, Madera & Dia.
Currently, it produces 56 different labels of wines across 13 distinct brands at its four owned and two leased production facilities located in Maharashtra and Karnataka.


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