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Wine maker Sula Vineyards gets SEBI nod for IPO
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Wednesday, 09 November, 2022, 14 : 00 PM [IST]
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Our Bureau, Mumbai
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Sula Vineyards, the country’s largest wine producer and seller and a market leader in the Indian wine industry in terms of sales volume and value since Fiscal 2009 has received capital markets regulator, Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The company had filed its draft papers in July this year.
The issue with a face value of Rs 2 per equity share is a complete offer for sale (OFS) aggregating to 25,546,186 equity shares.
The company set up its first vineyard in 1996 and in the year 2000 was the first to introduce varietal wines in India with the launch of Sauvignon Blanc, Chenin Blanc, Zinfandel, Riesling, Red Sparkling, and dessert wine offerings.In fiscal 2005, it launched the first wine tasting room in India at its winery in Nashik, Maharashtra, followed by country’s first vineyard resort in 2008, and in the same year, the wine-maker launched the first wine-themed music festival in India, “SulaFest”, at its Nashik facility in 2008. “SulaFest” has been widely recognised as the largest wine music festival in India and one of thelargest wine music festivals in Asia, based on attendance. In fiscal 2017, it launched a wine tasting room at its “Domaine Sula” facility in Karnataka.
The company has been recognised as the market leader across wine variants, including red, white and sparkling wines. It distributes wines under a bouquet of popular brands such as Sula, its flagship brand besides other popular brands namely Rasa, Dindori, The Source, Satori, Madera & Dia. Currently, it produces 56 different labels of wine across 13 distinct brands at its four owned and two leased production facilities located in the Indian states of Maharashtra and Karnataka.
Its wine processing units are also located in the west and southwest of India, with the flagship facility located in Nashik, Maharashtra, and wine processing units located in Nashik and Dindori in Maharashtra, and Bengaluru and Basavakalyan in Karnataka.
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