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Subscribe to Sula Vineyards: Choice Equity Broking

Choice Equity Broking has come out with its report on Sula Vineyards. The research firm has recommended to “ Subscribe” the ipo in its research report as on December 09, 2022.

December 12, 2022 / 02:00 PM IST
Uniparts India IPO (representative image)

Uniparts India IPO (representative image)

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Choice Equity Broking IPO report on Sula Vineyards

India's largest wine producer and seller, Sula Vineyards Ltd. (Sula), is coming up with an IPO to raise Rs. 960cr, which opens on 12th Dec. and closes on 14th Dec. 2022. The price band is Rs. 340 - 357 per share. The IPO consists only of OFS portion, thus the company will not receive any proceeds from the issue. Through this IPO, the promoter group is diluting 1.11% of the stake. Couple of private equity investors are fully exiting, while others investors are partially offloading their stake in the company.

Valuation and Outlook

Sula being the largest producer & seller of wine is well placed to capture the future growth opportunities in the Indian wine market. Thus we assign a “SUBSCRIBE” rating for the issue.

For all IPO report, click here

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12122022 - Sula Vineyards -IPO - choice

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