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<ul><li><keyword id="173264" type="General" weightage="50" keywordseo="sula-vineyards" source="Orion">Sula Vineyards</keyword> filed a DRHP with SEBI to raise funds via a public offer.</li><li>The wine maker is well known for its wine brands like <keyword id="335034" type="General" weightage="100" keywordseo="sula" source="Orion">Sula</keyword>, RASA, Dindori, The Source, Satori, Madera and Dia.</li><li>The company registered an annual growth of 13.7% between FY11 to FY21.</li></ul>Nasik-based Sula Vineyards, the country’s largest wine producer, today filed a draft red herring prospectus or DRHP for a public offer, with the markets regulator, SEBI. While the amount to be raised has not been revealed as yet, the company is well known for its wine brands such as Sula, RASA, Dindori, The Source, Satori, Madera and Dia. It produces 56 different labels of wine across 13 distinct brands. It has six production facilities in Maharashtra and Karnataka. The company registered an annual growth of 13.7% between FY11 to FY21, as per the DRHP. On the basis of total revenue from operations, it has gained market share from 33% in FY09 in the grapes wine category to 52.6% in FY21. Its business can be classified under production of wine, import and distribution of wines and spirits and sale of services from ownership and operation of wine tourism venues including vineyard resorts and tasting rooms. The issue with a face value of ₹2 per equity share is a complete offer for sale (OFS) aggregating to 25,546,186 equity shares. Sula services close to 8,000 hotels, restaurants and caterers, and tie-ups with distributors in Maharashtra, Haryana, Delhi, Goa and Punjab with close to 13,000 retail touchpoints across the country in 2021. Sula’s Shiraz Cabernet is India’s largest selling wine by value in FY21, with its gross billings amounting to ₹91.8 crore in FY22. Wine market in India will remain concentrated with high barriers to entry due to the nature of the product in addition to the trade barriers prevalent in the alcoholic beverage market. The demand for wines in urban and semi-urban areas of India is on the rise, the DRHP says. Kotak Mahindra Capital, CLSA and IIFL Securities are the book running lead managers and KFin Technologies is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE. SEE ALSO: <a href="https://www.businessinsider.in/business/news/hdfcs-net-profit-grows-by-19-other-income-grows-by-35/articleshow/92918390.cms">HDFC’s net profit grows by 19%, other income grows by 35%</a> <a href="https://www.businessinsider.in/science/health/booster-shots-important-says-new-study-as-[%E2%80%A6]accine-protection-is-short-lived/articleshow/92918945.cms">Booster shots important says new study as Covid vaccine protection is short-lived</a>

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India’s largest wine seller Sula Vineyards files for an IPO

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