Sula Vineyards makes a flat debut, shares list at 1% premium

Sula Vineyards made its stock market debut on Thursday on a muted note. The shares got listed at Rs 361 on the National Stock Exchange (NSE), a premium of 1.14% over its issue price of Rs 357 apiece.

The homegrown wine manufacturer debuted flat at Rs 358 as against the given issue price on BSE.

Ahead of its listing, Sula Vineyards was exchanging hands at a discount of Rs 10-15 in the grey market apiece against the issue price of Rs 357.


Sula Vineyards raised a little more than Rs 960 crore from its primary offering wherein it sold shares in the range of Rs 340-357 per share between December 12-14. However, the issue was merely subscribed 2.33 times.

The quota reserved for qualified institutional buyers (QIBs) was subscribed 4.13 times while those reserved for non-institutional investors (NIIs) and retailers were subscribed 1.51 times and 1.65 times, respectively.

Sula Vineyards is going to be India's first pure-play wine manufacturer to make its Dalal Street debut.

Incorporated in 2003, Nashik-based Sula Vineyards is India's largest wine producer and seller. It has a bouquet of popular brands, including Sula, RASA, Dindori, The source, Satori, Madera and Dia.