Sula Vineyards IPO

Closed

Sula Vineyards IPO Subscription Details

  • Open Date 12 Dec
  • Close Date 14 Dec
  • Lot Size 42
  • IPO Size ₹ 960.35 Cr
  • IPO Price Range ₹ 340 to ₹357/share
  • Min Investment ₹ 14280
  • Listing Exchange BSE, NSE
  • Basis of Allotment 19 Dec
  • Refunds 20 Dec
  • Credit to Demat Account 21 Dec
  • Listing Date 22 Dec

Sula Vineyards IPO Subscription Status

Date QIB NII Retail TOTAL
12-Dec-22 0.00x 0.18x 0.48x 0.28x
13-Dec-22 0.00x 0.45x 0.99x 0.59x
14-Dec-22 4.13x 1.51x 1.65x 2.33x

Sula Vineyards IPO Synopsis

India’s largest wine maker, Sula Vineyards is coming with an IPO which opens on 12th December, and closes on 14th December.
Sula Vineyards is considered a "category creator" and once the listing plans fructify, it would arguably be the first IPO in India by a pure play wine manufacturer.

The company plans to raise funds around Rs. 900-1000 cr via a pure OFS of 25,546,186 equity shares. The price band and lot size are yet to be announced. However, the shares are likely to be allotted on 19th December and the issue is expected to list on 22nd December.

CLSA, Kotak Mahindra Capital and IIFL Capital are the investment banks working on the issue.

Objective of Sula Vineyards IPO

The net proceeds from the issue will be utilised towards:

•    to carry out the Offer for Sale of up to 26,900,530 Equity Shares
•    achieve the benefits of listing the Equity Shares on the Stock Exchanges

Sula Vineyards IPO Video

About Sula Vineyards

Sula Vineyards is the largest wine producer and seller in India and has also been a consistent market leader in the category it operates in terms of sales and volumes. It also the most visited vineyards, it had approximately 368,000 people visiting it in 2020. 
the market leader across all four price segments, being ‘Elite’ (INR 950+), ‘Premium’ (INR 700-950), ‘Economy’ (INR 400- 700) and ‘Popular’ (INR<400). 
It also a market leader across wine variants, including red, white and sparkling wines
The company has two main categories, i.e., 
•    the production of wine, the import of wines and spirits, and the distribution of wines and spirits (the “Wine Business”)
•    the sale of services from ownership
Recently, it has also added a new segment of Wine Tourism business which vineyard resorts and tasting rooms. The resorts under “The Source at Sula” and “Beyond by Sula” brand names, having room capacities of 57 and 10 rooms, are located in Nasik while the tasting room named “Domaine Sula” is located in Karnataka. It also hosts India’s and Asia’s largest wine music festival.

Apart from the flagship brand Sula, the company also distributes wines under various other brands namely, e “RASA,” “Dindori”, “The source,” “Satori”, “Madera” & “Dia”. The business has to offer extensive varieties of wine at varying price points, with 56 labels to choose from a portfolio of 13 distinct brands making it accessible to the masses with different budgets. 

It services to nearly upto 8000 hotels, restaurants and caterers and Off-trade sales contributed upto 72.25% in the last 3 years of its secondary sales. The company has tie-ups with distributors in Maharashtra, Haryana, Delhi, Goa and Punjab and upto 13,000 retail touchpoints in 2021. 
 

Know About: Sula Vineyards IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 453.9 418.0 521.6
EBITDA 116.1 64.5 50.5
PAT 52.1 3.0 -15.9
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 758.6 751.6 831.0
Share Capital 15.7 15.1 15.0
Total Borrowings 228.9 301.3 368.2
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 87.4 119.5 44.7
Net cash from / (used in) investing activities -56.8 -21.7 -44.0
Net cash flow from / (used in) financing activities -61.3 -94.5 33.4
Net increase (decrease) in cash and cash equivalents -30.6 3.4 34.0

Peer Comparison

Name of the Company Total Income (in Rs. crores) Basic EPS CMP Rs. per share PE RoNW%
Sula Vineyards Limited 453.92 6.53 55.34 NA 11.45%
United Spirits Limited 31,061.80 11.68 67.09 76.14 16.63%
Radico Khaitan Limited 12,470.50 19.7 149.46 53.36 13.18%
United Breweries Limited 13,123.92 13.82 148.99 119.83 9.29%


Sula Vineyards IPO Key Points

  • Strengths

    •    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

  • Risks

    •    Subjected to a licensing and excise regime with changing laws, rules and regulations and legal uncertainties, including adverse application of corporate and tax laws
    •    Reduction or elimination of high import duties imposed on imports of international wines in India
    •    Impact of adverse climatic conditions on the quality of wine grapes which are the key raw materials
    •    Inability to adjust the retail prices of its products as a result of state regulation;
    •    Changes in consumers’ taste and preference and the likelihood that they may not prefer wine in the future
    •    Any supply disruptions in the raw materials
     

How to apply for IPO?

  • Login to your 5paisa account and select the issue in the current IPO section

  • Enter the number of lots and price at which you wish to apply for

  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

  • You will receive a mandate notification to block funds in your UPI app

  • Approve the mandate request on your UPI and funds will be blocked

Sula Vineyards IPO FAQs

What is the price band of the Sula Vineyards IPO?

The price band of the Sula Vineyards IPO is Rs. 340 to Rs. 357 per share

When does the Sula Vineyards IPO open and close?

The Sula Vineyards IPO opens on 12th December and closes on 14th December. 

What is the size of Sula Vineyards IPO?

The Sula Vineyards IPO consists of an Offer for Sale (OFS) of 25,546,186 equity shares 

What is the allotment date of Sula Vineyards IPO?

The allotment date of the Sula Vineyards IPO is 19th December

What is the Sula Vineyards IPO listing date?

The listing date for the Sula Vineyards IPO is 22nd December. 

What is the minimum lot size and investment required for the Sula Vineyards IPO?

The Sula Vineyards IPO lot size is 42 shares. A retail-individual investor can apply for up to 13 lots (546 shares or ₹194,922).

What is the objective of the Sula Vineyards IPO?

The objective of Sula Vineyards is to carry out the Offer for Sale of up to 26,900,530 Equity Shares
 and achieve benefits of the stock exchanges. 

How to apply for the Sula Vineyards IPO?

To apply for the Sula Vineyards IPO, follow the steps given below

•    Login to your 5paisa account and select the issue in the current IPO section
•    Enter the number of lots and price at which you wish to apply for
•    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
•    You will receive a mandate notification to block funds in your UPI app
 

Who are the promoters/key personnels of Sula Vineyards?

Sula Vineyards is promoted by Rajeev Samant.

Who are the book runners for Sula Vineyards IPO?

CLSA, Kotak Mahindra Capital and IIFL Capital are the book running lead managers to the Sula Vineyards IPO.

Contact Details of Sula Vineyards IPO

Contact Information

Sula Vineyards Limited

901, Hubtown Solaris,
N.S. Phadke Marg,
Andheri (East), Mumbai 400 069 Maharashtra
Phone: +91 22 6128 0606
Email: cs@sulawines.com
Website: https://www.sulavineyards.com/

Sula Vineyards IPO Register

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://karisma.kfintech.com/

Sula Vineyards IPO Lead Manager

Kotak Mahindra Capital Company Limited
CLSA India Private Limited
IIFL Securities Ltd