Sula Vineyards Ltd's initial public offering, which opened for subscription on December 12, was subscribed 2.33 times on the final day of bidding, driven by stellar response from qualified institutional buyers, retail investors and non-institutional investors.
The company received bids for 4,38,36,534 shares against 1,88,30,372 shares on offer, according to data from the BSE.
The qualified institutional buyers' portion was subscribed 4.13 times. The company received bids for 2,22,40,512 shares against 53,80,106 on offer for this segment.
The retail investors' portion was subscribed 1.65 times. The company received bids for 1,55,07,576 shares against 94,15,186 on offer for this segment.
The non-institutional investors' portion was subscribed 1.51 times. The company received bids for 60,88,446 shares against 40,35,080 on offer for this segment.
On the other side, the portion set aside for employees was 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.