Sula Vineyards plans Rs 1,200-1,400 cr public issue: Report

Belgium-based Verlinvest has invested over $70 million through multiple fund raising rounds in Sula since 2010

FPJ Web DeskUpdated: Wednesday, June 01, 2022, 09:30 PM IST
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The winemaker has appointed IIFL, Kotak Mahindra Capital and CLSA as its bankers, the report added. /Representative image |

Sula Vineyards is likely to launch a Rs 1,200 crore to Rs 1,400 crore initial public offering (IPO) soon, according to news reports.

Nashik-based Sula Vineyards is likely to file its documents with Securities and Exchange Board of India (Sebi) for an initial public offering soon, reported Economic Times citing banking sources.

The winemaker has appointed IIFL, Kotak Mahindra Capital and CLSA as its bankers, the report added.

The IPO plans include a fresh issue of shares and an offer-for-sale (OFS) from existing investors, the report said citing banking sources. The existing investors are a mix of institutional and private equity (PE) investors such as DSG Consumer Partners, Everstone Capital, Saama Capital and Verlinvest.

Belgium-based Verlinvest has invested over $70 million through multiple fund raising rounds in Sula since 2010.

The winemaker, which set up its first winery in 1999, has over 13 brands and sells them through a distribution network across 24 states.

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