Team MW | Oct 8, 2023 | 0
Sula Vineyards IPO GMP, Price, Dates & Allotment Details 2022
The Sula Vineyards IPO will open on December 12 and close on December 14, 2022. As per the DRHP filed by the company with SEBI, the IPO has an issue size of 26,900,530 shares of ₹ 2 each.
Incorporated in 2003. As of March 31, 2021, Sula Vineyards is India’s largest wine producer and distributor (source: Technopak Report). Since Fiscal 2009, the company has consistently led the Indian wine market in terms of sales volume and value (based on total operating revenue), surpassing 50% market share by value in the local 100% grape wine market in Fiscal 2012. (source: Technopak Report).
A variety of well-known wine brands, including “RASA,” “Dindori,” “The Source,” “Satori,” “Madera,” and “Dia,” are distributed by the company. Its flagship brand, “Sula,” is credited with “creating the category” of wine in India.
Company business can be broadly classified under two categories
- The “wine business” (the processes of producing wine, importing wine and spirits, and selling such beverages);
- Selling of services resulting from ownership and management of wine tourism establishments, such as winery resorts and tasting rooms (the “wine tourism business”),
Sula Vineyards IPO – Noteworthy Highlights
- Market leader across all four price segments, being ‘Elite’ (INR 950+), ‘Premium’ (INR 700-950), ‘Economy’ (INR 400- 700) and ‘Popular’ (<INR 400).
- With a higher share of approximately 60% by value in the ‘Elite’ and ‘Premium’ categories in Fiscal 2021, as compared to our overall market share of 52.6% in the Indian wine industry.
- Furthermore, company also recognized as the market leader across wine variants, including red, white and sparkling wines.
- Company gross billings of Sula Shiraz Cabernet in Fiscal 2022 amounted to ₹ 918.26 million.
- Produce 56 different level of wine.
Financial Highlights (Restated)
|Particulars||FY 2021-22||FY 2020-21||FY 2019-20|
|Profit After Tax||52.14||3.01||(15.94)|
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Sula Vineyards IPO – Details
According to the DRHP filed in SEBI, company are planning to issue 26,900,530 shares of ₹ 2 each, aggregate up to ₹ [.] crore through this public issue.
|Issue Type||Book Built Issue IPO|
|IPO Price||₹ 340 to ₹ 357 per share|
|Face Value||₹ 2 per share|
|Market Lot||42 Shares|
|Issue Size||26,900,530 shares of ₹ 2 (Aggregating up to ₹ 960.35 Crore)|
|Offer For Sale||26,900,530 shares of ₹ 2 (Aggregating up to ₹ 960.35 Crore)|
|QIB Shares Offered||Not more than 50% of the Net offer|
|NII (HNI) Shares Offered||Not less than 15% of the Offer|
|Retail Shares Offered||Not less than 35% of the Offer|
|Listing At||NSE, SME|
Tentative Timetable – Sula Vineyards IPO
|Opening Date||Dec 12, 2022|
|Closing Date||Dec 14, 2022|
|Basis of Allotment||Dec 19, 2022|
|Initiation of Refunds||Dec 20, 2022|
|Credit of Shares to Demat||Dec 21, 2022|
|Listing Date||Dec 22, 2022|
Promoter Holding – Sula Vineyards IPO
|Pre issue shareholding||28.44%|
|Post issue shareholding||27.33%|
SWOT Analysis – Sula Vineyards IPO
- High barriers of entry
- Established market leader in the Indian wine industry with the leading brand “Sula”
- Largest wine producer in India with the widest and innovative product offering supported by an efficient production mechanism.
- Largest wine distribution network and sales presence.
- Secured supply of raw material with long-term contracts exclusive to Sula.
- Leader and pioneer of the wine tourism business in India.
- Early adoption and focus on sustainability.
- Experienced Board, qualified senior management team.
- Unable to adjust retail price of product because for state regulations.
- Heavily rely on brand portfolio.
- Company revenue from operations is dependent upon a limited number of customers (which includes state run corporations, wholesalers and independent distributors).
- Advertising of alcoholic beverage products is restricted in India and company are unable to advertise its products.
- India is one of the fastest growing alcoholic beverage markets in the world.
- Increasing wine awareness and consumption, and penetrating further into Tier-1 and 2 cities in India.
- Wine market in India will remain concentrated with high barriers to entry due to the nature of the product in addition to the trade barriers prevalent in the alcoholic beverage market.
- Adverse climatic conditions may impact the quality of wine grapes which are company key raw materials.
- Change in consumer taste and preference.
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|Download Prospectus (PDF)||IPO DRHP|
|Company Contact Information||Sula Vineyards Limited |
901, Hubtown Solaris, N.S. Phadke Marg,
Andheri (East), Mumbai 400 069 Maharashtra
Phone: +91 22 6128 0606
Email: [email protected]
|IPO Registrar||KFin Technologies Limited |
Phone: 04067162222, 04079611000
Email: [email protected]
|IPO Lead Manager(s)||1. Kotak Mahindra Capital Company Limited |
2. CLSA India Private Limited
3. IIFL Securities Ltd
According to the DRHP filed in SEBI, the company is planning to issue 26,900,530 shares of ₹ 2 each through this public issue. The IPO subscription window will open on December 12, 2022 and close on December 14, 2022.
The finalization of Basis of Allotment for Sula Vineyards IPO will be done on December 19, 2022, and the allotted shares will be credited to your demat account by December 21, 2022. Check the Sula Vineyards IPO allotment status.
Customers need to log in to their accounts to check Sula Vineyards IPO allotment status.
When checking the allotment status, keep your application, DP ID, and PAN number ready.
The Sula Vineyards IPO shares listing date is December 22, 2022.
The investors’ portion for QIB – 50%, NII (HNI) – 15%, and Retail – 35%.