Sula Vineyards IPO: The Initial Public Offer (IPO) of Sula Vineyards Limited opened for subscription on December 12, 2022 and will remain open for bidders till December 14, 2022. As of 10:44 am on the second day of bidding, the Sula Vineyards IPO subscription status shows that the issue has been subscribed 0.35 times while its retail portion has been subscribed 0.61 times. The public offer has been subscribed 0.21 times in the NII category.
Gray market sentiment turns down after climbing up, following tepid response from investors 55 levels on the weekend. According to market observers, Sula Vineyards Ltd shares are available at a premium 31 in the gray market today. The gray market premium (GMP) of Sula Vineyards’ IPO was 34 on the first day of bidding. Hence, Sula Vineyards IPO GMP down today following poor response from investors 3 as compared to its GMP yesterday.
Market observers added that Sula Vineyards IPO GMP is today 31 ie gray market is expecting Sula Vineyards IPO listing to be around 388 ( 357+ 31), which is around 8.50 per cent higher than its price band from 340 357 per equity share.
Sula Vineyards IPO Membership Status
As of 10:44 am on the second day of bidding, the public issue has been subscribed 0.35 times, its retail portion has been subscribed 0.61 times, while in the NII category it has been subscribed 0.21 times.
should you apply
Giving the subscribed tag to Sula Vineyards IPO, Ashika Research reports, “Sula is India’s largest wine producer and seller with 52% market share in the Indian wine industry. The company is also the market leader in all 4 price segments, ‘having Being elite’ ( 950+), ‘Premium’ ( 700-950), ‘Economy’ ( 400-700) and ‘popular (
Giving it a ‘subscription’ tag for the long term, Anand Rathi report says, “At the upper price band Sula Vineyards Limited is available at P/E 35.8x and Market Cap 30,058 million post issue of equity shares and return on net assets of 11.45%. We believe the Sula Vineyards Limited IPO is fairly priced and recommend a “Subscribe-Long Term” rating to the IPO.”
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