Sula Vineyards Files DRHP For IPO: Report

As per a leading business portal, the country's leading wine manufacturer Sula Vineyards has filed papers with the market regulator for coming up with the IPO.

In case the IPO plan goes through, this shall be the first IPO by a pure wine maker. Earlier last month, from the similar segment Officers Choice whiskey maker Allied Blenders & Distillers filed draft red herring prospectus with the SEBI for IPO.

Sula Vineyards Files DRHP For IPO: Report

"The e-filing of the DRHP with Sebi has been done. The IPO consists consists solely of an OFS component, as part of which Verlinvest and the promoter group are amongst the major selling shareholders," one of the sources is quoted as saying in the report.

The company is planning a complete OFS.

Sula is the country's leading wine company established by Rajeev Samant in the year 1999. The company has been Nashik's first winery. Reportedly the company is profitable and of late has witnessed increase in sales also.

The company is backed by major shareholder consumer-focused Belgian family office Verlinves.

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