te Sula Vineyard IPO Review by Anil Singhvi: Subscribe or avoid? Check recommendation here | Zee Business

Sula Vineyard IPO Review by Anil Singhvi: Subscribe or avoid? Check recommendation here

Anil Singhvi on Sula Vineyard IPO: The category for Retail Individual Investors (RIIs) was subscribed 48 per cent and that of non-institutional investors 18 per cent.

Sula Vineyard IPO Review by Anil Singhvi: Subscribe or avoid? Check recommendation here
Anil Singhvi on Sula Vineyard IPO: Ahead of the IPO, Sula Vineyards raised Rs 288 crore from anchor investors

Anil Singhvi on Sula Vineyard IPO: The initial public offer of Sula Vineyards on first day (December 12) received 28 per cent subscription. The leading wine producer's IPO received bids for 52,34,670 shares against 1,88,30,372 shares on offer, as per NSE data.

The category for Retail Individual Investors (RIIs) was subscribed 48 per cent and that of non-institutional investors 18 per cent.

Landmark car IPO Review by Anil Singhvi: Subscribe or avoid? Check recommendation here 

TRENDING NOW

The Initial Public Offering (IPO) of up to 26,900,530 equity shares has a price range of Rs 340-357 a share.

Zee Business Managing Editor Anil Singhvi recommended subscribing the public issue for long term. He said that if investors are not subscribing the issue now, then they can buy shares after the listing. 

Singhvi said that Sula Vineyard has experienced promoters and has a market share of 52 per cent. He also said that the wine producing company is the leader of four wine making segments. He said that the company has improved financially and the margins are also getting better.

Singhvi said that the wine producing company will have a positive growth as the alcohol segment in India is growing. Contrarian to this, he said that it is a highly regulated business which can be a problem. 

He further said that the government is signing free trade agreements with many countries which can lead to reduction in the import duty on alcohol and that can increase the competition for Sula Vineyards from foreign companies. 

Ahead of the IPO, Sula Vineyards raised Rs 288 crore from anchor investors. At the higher end of the price band, the IPO is expected to fetch Rs 960.35 crore.

The company distributes wines under a bouquet of popular brands such as Sula (its flagship brand), RASA, Dindori, The Source, Satori, Madera and Dia.

Click here to get more Stock Market Updates I Zee Business Live 

Reported By: ZeeBiz WebTeam
Written By: Sirali Gupta
Edited By: Abhinav Ranjan
Updated: Tue, Dec 13, 2022
10:15 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
In high spirits! Sula Vineyards hits all-time high as CLSA upgrades the stock to buy, sees 56% upside In high spirits! Sula Vineyards hits all-time high as CLSA upgrades the stock to buy, sees 56% upside
Sula Vineyards shares jump as Street cheers winemaker's strong Q2 update Sula Vineyards shares jump as Street cheers winemaker's strong Q2 update
Sula Vineyards' Q2 Results: Revenue up 14% to Rs 116 crore Sula Vineyards' Q2 Results: Revenue up 14% to Rs 116 crore
Sula Vineyards shares tumble as 90-day mandatory IPO lock-in period ends Sula Vineyards shares tumble as 90-day mandatory IPO lock-in period ends
Sula Vineyards share price tanks 11% from IPO issue price; Jupiter India Fund, Goldman Sachs buy shares worth Rs 47.27 crore Sula Vineyards share price tanks 11% from IPO issue price; Jupiter India Fund, Goldman Sachs buy shares worth Rs 47.27 crore

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x