Sula Vineyards was incorporated on February 26, 2003, as Nashik Vintners Limited. Its business can be broadly classified under two categories—(i) production of wines, import and distribution of wines and spirits; and (ii) sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms.
| Bidding Dates |
|---|
| 12 Dec 2022 - 14 Dec 2022 |
| Subscription |
|---|
| 2.33x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,994 | 1 | 13 | 42 | 26.9 M | ₹340 - ₹357 | 68.05 % | ₹9146.2 M - ₹9603.5 M | RHP DOC |
Sula Vineyards IPO SUBSCRIPTION STATUS
14 Dec '22Sula Vineyards IPO overall subscription rate was 2.33 times the total available shares
Sula Vineyards IPO retail subscription rate was 1.65 times in the retail segment
Sula Vineyards IPO non-institutional investor subscription rate was 1.51 times in the non-institutional investor category
Sula Vineyards IPO Qualified Institutional Bidder subscription rate was 4.13 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 Dec 2022 (Day 3) | 1.65x | 1.51x | 4.13x |
13 Dec 2022 (Day 2) | 0.98x | 0.45x | 0x |
12 Dec 2022 (Day 1) | 0.48x | 0.18x | 0x |
Sula Vineyards FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY23 | 305.1 | 2,240.7 | 263.4 | 47.5 | 28.7% |
| H1FY22 | 45.3 | 1,591.5 | 154.0 | 19.9 | 18.9% |
| FY22 | 521.4 | 4,539.2 | 874.4 | 415.5 | 25.6% |
| FY21 | 30.1 | 4,179.6 | 1,195.2 | 1,039.4 | 15.4% |
| FY20 | -159.4 | 5,216.3 | 446.6 | 7.9 | 9.7% |
Sula Vineyards IPO SUBSCRIPTION STATUS DETAILS
Sula Vineyards had 26.9 M shares on offer
Sula Vineyards IPO offer price was in the range ₹340 - ₹357
Sula Vineyards IPO minimum Investment was ₹14994
Sula Vineyards IPO issue size was ₹ 9146.2 M - ₹ 9603.5 M
Sula Vineyards had a minimum lot size of 42 Shares per application
Sula Vineyards NUMBER OF SHARES ON OFFER
Sula Vineyards IPO IMPORTANT DATES
| Issue Open Date | 12 Dec 2022 |
| Issue close Date | 14 Dec 2022 |
| Allotment Date | 19 Dec 2022 |
| Refund Date | 20 Dec 2022 |
| Demat Account Credit Date | 21 Dec 2022 |
| Listing Date | 22 Dec 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Sula Vineyards Allotment Status | Exchange |
Sula Vineyards IPO subscription opened on 12 Dec 2022, and closed on 14 Dec 2022
IPO allotment for Sula Vineyards was finalized on Monday, 19 Dec 2022
IPO listing for Sula Vineyards was on NSE and BSE on Thursday, 22 Dec 2022
Sula Vineyards IPO LISTING GAINS
| Issue Price (adjusted) | 357.0 |
| Listing Open Price | 361.0 |
| Listing Close Price | 331.2 |
| Listing Gain% | 1.1% |
| Current Gain% | -55.6% |
Sula Vineyards Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sula Vineyards Ltd. | 158.6 | 1335 | 54.1 | -0.9 | 2.4 | 4.4 | 2.3 | 560.2 | -3.9 | 25.6 | -63.5 | 2.9 | -56.9 |
| United Spirits Ltd. | 1512.4 | 110004.6 | 58.4 | 2.4 | 8.7 | 20.5 | 12.7 | 12945 | 4.4 | 1838 | 16.2 | 25.9 | 24.5 |
| Radico Khaitan Ltd. | 4499 | 60278.7 | 85.7 | 1.1 | 9.7 | 18.2 | 12.2 | 6062.3 | 24.8 | 604.5 | 74.9 | 52.5 | 76.4 |
| United Breweries Ltd. | 1400.3 | 37024.6 | 93.6 | -7.5 | 3.9 | 9.1 | 4.3 | 9285.1 | 3.7 | 413.2 | -6.5 | 15 | -12.5 |
| Allied Blenders & Distillers Ltd. | 599.2 | 16761.6 | 75.9 | -9.5 | 3.5 | 13.7 | 5.5 | 3948.8 | 11.5 | 228.3 | 17.2 | 7.9 | -8 |
| Tilaknagar Industries Ltd. | 490.8 | 12144.8 | -336.9 | 3 | 4 | 0.7 | 0.3 | 2371.7 | 63.4 | 20.9 | -90.9 | -1.5 | -113 |
Sula Vineyards IPO Reports
Sula Vineyards INFORMATION ON IPO ISSUE
About Sula Vineyards
Sula Vineyards was incorporated on February 26, 2003, as Nashik Vintners Limited. Its business can be broadly classified under two categories—(i) production of wines, import and distribution of wines and spirits; and (ii) sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms.
Object of the Issue
- To carry out the offer for sale of up to 2,69,00,530 equity shares by the selling shareholders
- To achieve the benefits of listing the equity shares on the stock exchange
Sula Vineyards - PROMOTERS
| Name |
|---|
| Rajeev Samant |
Sula Vineyards Book Running Lead Manager
Kotak Mahindra Capital Company Limited
Sulavineyards.ipo@kotak.com
Sula Vineyards Book Running Lead Managers
CLSA India Private Limited
sula.ipo@clsa.com
IIFL Securities Limited
sula.ipo@iiflcap.com
Sula Vineyards Registrar to the Offer
KFinTechnologies Private Limited
sula.ipo@kfintech.com
Sula Vineyards Strengths
High barriers of entry
The Indian wine market will remain concentrated, with high barriers to entry due to the nature of the product, as well as trade barriers prevalent in the alcoholic beverage market
Established market leader
The company is an established market leader in the Indian wine industry with the leading brand 'Sula'
Largest wine producer
It is the largest wine producer in India with the widest and most innovative product offering supported by an efficient production mechanism. It also has the largest wine distribution network and sales presence
Leader and pioneer in wine tourism in India
The company is a pioneer in wine tourism in India, which has led to a strong D2C presence. The combination of resorts, tasting rooms and restaurants the company has helped it create a unique wine culture in India
Sula Vineyards Risks
Legal obligations
The industry that the company operates in is subject to a licensing and excise regime with changing laws, rules and regulations, and legal uncertainties, including the adverse application of corporate and tax laws
Reliant on brand portfolio
The company relies heavily on its brand portfolio and the success of the business strategy depends on its ability to enhance the brands
Seasonal and cyclical variations
The wine tourism business is subject to seasonal and cyclical variations that could result in fluctuations in the results of operations and cash flows
IPO FAQs
This IPO consists of an offer for sale of up to Rs 960.4 crore, of 26,900,529 shares.
The promoter of the company is Rajeev Samant.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 340.0 - 357.0.
The IPO application opens on Dec 12, 2022 and closes on Dec 14, 2022.
The minimum lot size for the IPO is 42. The maximum lot size for the IPO is 546.
For all category investors, the minimum application amount for this IPO is Rs. 14,994.0, the maximum value for this IPO is Rs 194,922.0.
This IPO will be allotted on Dec 19, 2022.
The refund will be credited to your account on Dec 20, 2022.
The allotted shares will be credited to your demat on Dec 21, 2022.
Sula Vineyards Ltd.’s shares listed on the stock exchanges on Dec 22, 2022.