Sula Vineyards IPO subscribed 2

Sula Vineyards IPO subscribed 2.33 times

The initial public offer of Sula Vineyards got subscribed 2.33 times on the last day of offer on Wednesday.

The Rs 960.35-crore initial share-sale received bids for 4,38,36,912 shares against 1,88,30,372 shares on offer, according to NSE data.

The IPO of up to 2,69,00,530 equity shares had a price range of Rs 340-357 a share.

On Friday, Sula Vineyards said it has raised Rs 288 crore from anchor investors.

The company distributes wines under a bouquet of popular brands such as Sula (its flagship brand), RASA, Dindori, The Source, Satori, Madera & Dia.

Currently, it produces 56 different labels of wines across 13 distinct brands at its four owned and two leased production facilities located in Maharashtra and Karnataka.

The equity shares are proposed to be listed on BSE and NSE.

Kotak Mahindra Capital Company Limited , CLSA India Private Limited and IIFL Securities were the managers to the offer.