Sula Vineyards IPO Subscribed 28% On First Day
The IPO was subscribed 0.28 times, or 28%, as of 5:00 p.m. on Dec. 12.
India's largest winemaker, Sula Vineyards Ltd., launched its initial public offering on Monday.
The Rs 960.3 crore IPO includes an offer for sale of 2.69 crore shares by the promoter group and selling shareholders at a price band of Rs 340–Rs 357 per share.
Post the offer, the promoters and the promoter group will hold 27.3% of the post-offer issued and the paid-up equity stake.
The offer for sale comprises 31.95% of the post-offer equity capital in the IPO.
According to a BSE circular, Sula Vineyards allotted 80.7 lakh equity shares at Rs 357 per share to anchor investors ahead of the initial stake sale. This aggregates to Rs 288.09 crore.
Meanwhile, the company will not receive any proceeds from the offering, it said in its red herring prospectus.
Subscription Status: Day 1
The IPO was subscribed 0.28 times, or 28%, as of 5:00 p.m. on Dec. 12.
Institutional investors: Zero
Non-institutional investors: 0.18 times
Retail investors: 0.48 times