Shares of Sula Vineyards will be listed at the bourses on Thursday. The ₹960-crore initial public offering (IPO) was subscribed 2.33 times. The company, which came out with an IPO at a price band of ₹340-357, has fixed the issue price at the upper end at ₹357.
The IPO of Sula Vineyards got subscribed 2.33 times on the last day of the offer on Wednesday. The issue had received bids for 4,38,36,912 shares against 1,88,30,372 shares on offer.
The category for qualified institutional buyers (QIBs) got subscribed 4.13 times, the retail individual investors (RIIs) portion received 1.65 times subscription, and non-institutional investors 1.51 times.
As a part of the IPO process, Sula Vineyards had raised ₹288 crore from anchor investors ahead of the issue.
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.