Sula Vineyards IPO opens: Should you subscribe it?

The initial public offer (IPO) of Sula Vineyards has hit the market and the public issue will remain open for bidding till 14th December 2022. India's largest wine producer and seller aims to raise ₹960.35 crore from its public offer and it is completely OFS (offer for sale) in nature. The company has fixed price band of the public issue at ₹340 to ₹357 apiece.

Meanwhile ahead of Sula Vineyards IPO subscription opening date, grey market is dropping positive signals in regard to the public offer. According to market observers, shares of Sula Vineyards Ltd are available at a premium of ₹34 in grey market.

A bidder will be able to apply for the IPO in lots and one lot will comprise 42 shares of the company. A bidder can apply for at least one lot whereas one retail investor can apply for maximum 13 lots of the IPO. The public issue is proposed for listing on BSE and NSE and tentative date for listing of company shares is 22nd December 2022.