Sula Vineyards IPO- Should you Apply or Avoid ?

Sula Vineyards IPO description – The company is India’s largest wine producer and seller as of March 31, 2021. It has 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% market share by value in the domestic 100% grapes wine market in Fiscal 2012. It has consistently gained market share (on the basis of its total revenue from operations) from 33% in Fiscal 2009 in 100% grapes wine category to 52% in value in Fiscal 2020 and further increased to 52.6% in Fiscal 2021.

Its business operates under two categories:
(i) The production of wine, the import of wines and spirits, and the distribution of wines and spirits (“Wine Business”) and
(ii) The sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms (“Wine Tourism Business”)

Currently, the company produces 56 different labels of wine at four owned and two leased production facilities located in the Indian states of Maharashtra and Karnataka. It serviced close to 8,000 hotels, restaurants and caterers and experienced a significant rise in Off-trade sales in the last 3 years with Off-trade sales contributing 72.25% of secondary sales during Fiscal 2022, compared to 61.33% in Fiscal 2020.

Sula Vineyards has build a large distribution network among wine companies in India, with close to 13,000 retail touchpoints across the country in 2021. It also has a strong direct to consumer (D2C) selling channel primarily through Wine Tourism Business facilities in Nashik and Bengaluru, with the highest number of D2C sales in the Indian wine industry in Fiscal 2021.

Sula Vineyards IPO

Promoters of Sula Vineyards Industries – Rajeev Samant

Sula Vineyards IPO Details

Sula Vineyards IPO Dates 12 – 14 December 2022
Sula Vineyards IPO Price INR 340 – 357 per share
Fresh issue NIL
Offer For Sale 26,900,530 shares (INR 960.35 crore)
Total IPO size 26,900,530 shares (INR 960.35 crore)
Minimum bid (lot size) 42 shares (INR 14,994)
Face Value  INR 2 per share
Retail Allocation 35%
Listing On NSE, BSE

Sula Vineyards Financial Performance

FY 2020 FY 2021 FY 2022 H1 FY 2023
Revenue 523.21 421.53 456.70 225.76
Expenses 472.72 357.02 340.63 161.45
Net income (15.94) 3.01 52.14 30.51
Margin (%) (3.06) 0.72 11.49 13.51

Sula Vineyards Offer News

Sula Vineyards Valuations & Margins

FY 2020 FY 2021 FY 2022
EPS (2.01) 0.38 6.53
PE ratio 52.07 – 54.67
RONW (%) (4.60) 0.85 11.45
NAV 9.68 15.44 55.34
ROCE (%) 4.09 10.67 20.86
EBITDA (%) 9.68 15.44 25.57
Debt/Equity 1.23 0.99 0.58

Sula Vineyards IPO GMP Today (Daily Trend)

Date Day-wise IPO GMP Kostak Subject to Sauda
6 Dec 2022 65
5 Dec 2022 60

Sula Vineyards Offer Registrar

Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
E-mail[email protected]

Sula Vineyards Contact Details

901, Hubtown Solaris, N.S. Phadke Marg,
Andheri (East), Mumbai 400 069
Maharashtra, India
Phone: +91 22 6128 0606
E-mail: [email protected]


Sula Vineyards IPO Allotment Status

Sula Vineyards IPO allotment will be available on KFin Tech website. Click on this link to get allotment status.

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Sula Vineyards IPO Dates & Listing Performance

Sula Vineyards IPO Opening Date 12 December 2022
Sula Vineyards IPO Closing Date 14 December 2022
Finalisation of Basis of Allotment 19 December 2022
Initiation of refunds 20 December 2022
Transfer of shares to demat accounts 21 December 2022
Sula Vineyards IPO Listing Date 22 December 2022

Sula Vineyards IPO FAQs

How many shares in Sula Vineyards IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.

How to apply in Sula Vineyards Public Offer?

The best way to apply in Sula Vineyards public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.

What is Sula Vineyards IPO GMP today?

Sula Vineyards IPO GMP today is INR 65 per share

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