scorecardresearchSula Vineyards IPO: Issue subscribed 0.59 times on Day 2

Sula Vineyards IPO: Issue subscribed 0.59 times on Day 2

Updated: 13 Dec 2022, 06:34 PM IST
TL;DR.

  • The company received bids for 1,10,99,256 shares against 1,88,30,372 shares on offer, according to data from the BSE.

Sula Vineyards IPO: Subscribed 0.59 times or 59% on the second day of bidding

Sula Vineyards IPO: Subscribed 0.59 times or 59% on the second day of bidding

Sula Vineyards Ltd's initial public offering, which opened for subscription on December 12, was subscribed 0.59 times or 59 percent on the second day of bidding, driven by response from retail investors and non-institutional investors. 

The issue was subscribed 0.28 times or 28 percent on the first day. It will close for subscription on December 14.

The company received bids for 1,10,99,256 shares against 1,88,30,372 shares on offer, according to data from the BSE.

The retail investors' portion was subscribed 0.99 times or 99 percent. The company received bids for 92,82,588 shares against 94,15,186 on offer for this segment.

The non-institutional investors' portion was subscribed 0.45 times or 45 percent. The company received bids for 18,03,984 shares against 40,35,080 on offer for this segment.

On the other side, the portions set aside for qualified institutional buyers and employees were not subscribed.

Sula Vineyards Ltd raised 288 crore from foreign and domestic anchor investors. The issue has received a 'Subscribe' rating from brokerage houses like Anand Rathi, Ashika Research, AUM Capital, Canara Bank, Choice Equity Broking, ICICI Direct, Indsec Securities, SBICAP Securities, and Ventura Securities.

Kotak Mahindra Capital Company Ltd, CLSA India Private Ltd, and IIFL Securities Ltd are the book-running lead managers.

The company has set the price band at 340 to 357 per equity share.

The public issue with a face value of 2 rupees per equity share is a complete offer for sale (OFS) of 26,900,530 equity shares by existing shareholders aggregating up to 960.35 crore.

 

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First Published: 13 Dec 2022, 06:34 PM IST