Sula Vineyard phasing out low-priced segment; to focus on premiumisation
Karan Vasani, COO, sees the wine segment in India growing on the premiumisation wave
Karan Vasani, COO, sees the wine segment in India growing on the premiumisation wave
Verlinvest Asia Pte was reportedly looking to sell up to 12.56% stake in India's leading winemaker at a price in the range of ₹473-508.7 apiece.
Sula’s own brands sales volumes crossed 1 million cases in FY23, with annual revenue rising 26% YoY to ₹482.5 crore.
CLSA has initiated its coverage on Sula Vineyards with a target price of ₹475, a potential upside of 39% from Tuesday’s closing price.
The share price of the company touched a fresh high of ₹432 in intraday trade on the BSE on the back of the continued rally in the last seven sessions.
Shares of Droneacharya Aerial listed at ₹102 per share, a premium of 89% over its issue price of ₹54 apiece on the BSE.
Landmark Cars shares listed 6.9% lower at ₹471 on the NSE, while Aban Holdings opened a tad higher at ₹273 against the issue price of ₹270.
Shares of Sula Vineyards declined as much as 5% to hit a low of ₹339 after making flat debut at ₹358 on the BSE, against the issue price of Rs ₹357 apiece.
Sula Vineyards, Aban Holdings, and Landmark Cars will launch their IPOs this week. Besides, Uniparts India will make its market debut on December 12.