Sula Vineyards IPO subscription day 3: Retail quota subscribed 1.65 times

Sula Vineyards IPO subscription day 3: 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 category for Qualified Institutional Buyers (QIBs) got subscribed 4.13 times, Retail Individual Investors (RIIs) portion received 1.65 times subscription and non-institutional investors 1.51 times. 

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. Also read- Electronics manufacturing services firm Elin Electronics' IPO to kick off on Dec 20: Check issue size, price, and other details 

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.

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