India's largest wine producer Sula Vineyards is set to announce its IPO share allotment on December 19. The Rs 960-crore public issue, which opened for subscription between December 12 and December 14, was an offer-for-sale (OFS) by the promoter and timesinvestors.
Investors can check their share allotment status either on the BSE website or on the portal of the IPO registrar by following three easy steps.
On the BSE website
a) Select equity in the issue type and Sula Vineyards Limited in the issue name
b) Enter either the application number or the Permanent Account Number (PAN)
c) Check the box (I'm not a robot), and finally click on the search button
a) Select IPO name (Sula Vineyards Limited)
b) Select and accordingly enter either the application number, Demat account or PAN
c) Enter Captcha, and click on the submit button
Unsuccessful investors will get refunds in their bank accounts by December 20, while equity shares will be credited to the demat accounts of successful investors by December 21.
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The scrip will debut on bourses on December 22. But there is little excitement ahead of the listing of India's biggest winemaker following a muted response to the offer, the IPO being an offer for sale and the volatility in the market.
The grey market doesn't hold much hope for Sula Vineyards, analysts said. Sula shares were trading at a moderate discount to the expected final issue price of Rs 357 a share in the grey market, analysts told Moneycontrol on condition of anonymity. The price band for the issue was Rs 340-Rs 357 per share.
The grey market is an unofficial trading platform where shares get traded well before the allotment and listing on bourses. Investors typically track it to get an idea of the listing price.
The offer was subscribed 2.33 times. Qualified institutional buyers (QIBs) bought 4.13 times their allotted quota of shares, high-net-worth individuals 1.51 times, while retail investors' quota was subscribed 1.65 times.
Also read: Nearly Rs 2,000-crore worth of IPOs to hit Dalal Street next week
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After scaling new highs at the start of the month, the equity market has since corrected more than 3 percent, which might be one of the reasons for subdued interest in the grey market, analysts said.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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