The Wine Chronicle 《品醇集》

THIS WEBSITE USES COOKIES TO ANALYSE TRAFFIC, YOU AGREE TO THIS BY CONTINUING.


TRENDING 最新消息 FOCUS 中文焦點 MISSION 公司宗旨 ABOUT US 關於我們 CONTACT 聯絡方法

NEWS

REPORTS: INDIA'S SULA VINEYARDS PLANS AN IPO OF USD180M

By Siulan Law Mathews DipWSET

20-6-2022



Source: Sula Vineyards

India’s leading winery, Sula Vineyards, is planning to go public with an Initial Public Offering (IPO) to raise Rs 12 to 14 billion (USD 153.9 to 179.5 million), according to reports by Indian media.

Quoting market sources, Indian reports said the Nashik-based winemaker has appointed Kotak Mahindra Capital, CLSA Hong Kong and IIFL as bankers for the IPO and is likely to file its documents with the Securities and Exchange Board of India soon.

Founder and owner of Sula Vineyards, Rajeev Samant, neither confirmed nor denied reports on Sula’s IPO plan when asked for comments.

Reports said the IPO plan includes a fresh issue of shares and an offer-for-sale from existing investors.

The existing investors are a mix of institutional and private equity investors inlcuding DSG Consumer Partners, Everstone Capital, Saama Capital and Verlinvest.

Belgium-based Verlinvest has invested over USD70 million through multiple fund raising rounds in Sula since 2010.

Sula Vineyards was first set up in 1999, it currently has over 2,000 acres of vineyards under management, most of them on long-term contracts with farmers in Nashik, South Maharashtra and Karnataka.

The winery owns 13 labels including Sula, Rasa, The Source, Kadu, Tropicale and Seco, covering a wide range of price points.

It has built a comprehensive distribution network across 24 states in India over the years, second only to French wine and spirits giant Pernod Ricard.

The company recorded a domestic market share of 52 percent in 2020, increased from just 33 percent in 2009.

(the writer can be contacted at: info@thewinechronicle.com)

ALL RIGHTS RESERVED

**IF YOU THINK THE WINE CHRONICLE IS WORTH SUPPORTING, PLEASE MAKE A DONATION TO HELP US IMPROVE AND CONTINUE OUR WORK**

One-off Donation
Or You Can Donate Monthly

TRENDING│ FOCUS│ MISSION│ ABOUT US│ CONTACT