Sula Vineyards set for IPO launch on December 12

Seems like Dalal street has decided its drink from the menu to end 2022 on a good note! According to reports, India's largest wine maker Sula Vineyards is all set to launch its initial public offering between Dec 12-14. The issue will open for anchor investors on Dec 9 and will be open for the public from Dec 12 to Dec 14.

As per reports by Moneycontrol, Sula Vineyards is looking to raise around Rs 950 crs to Rs 1000 crs via the IPO which consists solely of an OFS component.

Sula Vineyards has been recognised as the market leader across wine variants, including red, white and sparkling wines.

Sula is headquartered in Nashik, 180km northeast of Mumbai, and has two manufacturing units, in Nashik and Bengaluru each. As of January, it had a production capacity of over 13 million litre, of which 11 million litre is housed in Nashik and 2 million litre in Karnataka.