Sula Vineyards IPO: Sula Vineyards files DRHP with Sebi for IPO
The issue with a par value of Rs 2 per share is a complete offer to sell (SFO) totaling 25,546,186 shares.
The Mumbai-based winemaker is one of the fastest growing alcoholic beverage companies as of March 31, 2021. It experienced a compound annual growth of 13.7% between fiscal 2011 and 2021, according to a Technopak report, the note in the DRHP mentioned.
Sula Vineyards has been the category leader in the Indian wine industry by sales volume and value since fiscal 2009. It established its first vineyard in 1996 and in 2000 introduced wines such as Sauvignon white, chenin blanc and riesling.
The memo says the company’s business includes the production of wine, the distribution of wines and spirits, and the sale of services to own and operate wine tourism venues, including wine stations and tasting rooms.
India’s alcoholic beverage market is the third largest in the world after China and the United States by volume in terms of actual alcohol content of alcoholic beverages. The wine market in India is expected to remain concentrated with high barriers to entry, in addition to the existing trade barriers prevailing in the alcoholic beverages segment.