Sula vineyards a vine-producing company now is on everyone’s watchlist the reason simple Sula vineyards come up with its Initial public offering (IPO) and the bidding dates of the IPO are from 12 December 2022 to 14 December 2022.
An individual investor can invest a minimum of 14,280 Rs in the bidding of the IPO the price range set by the company is between ₹340-₹357. The company wants an issue size of 960.35cr for its company.
The company was founded in 2003 and the managing director of the company is Rajeev Samat. Sula Vineyards Limited is India’s largest wine producer and seller as of March 31, 2022. It has been a consistent market leader in the Indian wine industry in terms of sales volume and value. Sula is also recognized as the market leader across wine variants, including red, white, and sparkling wines. Sula’s business can be broadly classified under two categories:
Wine Business: the production of wine, the import of wines and spirits, and the distribution of wines and spirits
Wine Tourism: the sale of services from ownership and operation of wine tourism venues, including vineyard resorts and tasting rooms
Currently, it produces 56 different labels of wine at four owned and two leased production facilities located in the Indian states of Maharashtra and Karnataka. Sula is the pioneer of wine tourism in India with many firsts to its credit, such as the first wine tasting room in India, the first vineyard resort, the first wine music festival and the first winery tours at its facility in Nashik, Maharashtra.
According to the mint article, the current Gmp of this IPO is ₹31 which is around 10%.overall profit of the company increased by almost 90% last year the company make a profit of 3cr and in this financial year the company has made a profit of 52cr which is a tremendous growth as compared to last year thus this Indicate that the company is fundamentally strong and applying for the IPO is not gonna be a bad option.