Sula Vineyards largest wine manufacturer in India, commands 52% share: MD Rajeev Samant

Sula Vineyards IPO is open for subscription. The public issue of the leading winery in India will end on December 14. Rajeev Samant, MD & CEO, Sula Vineyards, said that the company became the largest wine manufacturer both in terms of volume and value last year. Currently, the company has a market share of around 52 per cent.  

“We are one of the largest wine tourism operators in the world. Wine tourism and wine production are our two major businesses,” Rajeev Samant said in an exclusive interaction with Zee Business.

The company is a leading exporter of wine. It is the first Indian wine manufacturing company that would list on stock market. 

He said that Sula Vineyards also introduced the concept of wine tourism in India where tourists can spend a few days amidst the vineyards and enjoy food and wine.  

“We have had private equity major shareholders since the last 15 years and this is the time some of them will be exiting. After this, I will be the major shareholder. For the last couple of years, we have had a very strong bounce back for wine and Sula, so we felt this is the right time,” Samant said while commenting on why the company chose to go public.

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Despite wine and alcohol having a relatively small market as compared to other FMCG products, the scenario is changing, stressed Samant. He mentioned that supermarkets in Maharashtra and Karnataka are selling beer and wine these days. 

"Gradually, there will be a change in the philosophy of states and more states will allow the sale of such beverages," he said.  

Samant also spoke about how the wine industry can follow a sustainable business model for the domestic market in India. The company has an initiative named Green Sula that focuses on making their vineyards eco-friendlier as well as more cost-effective.

The IPO has opened today and it will remain open till December 14. The price band of the IPO is Rs 340-Rs 357. The minimum application amount per lot is Rs 14,954.