Rajeev Samant’s Sula Vineyards files IPO papers with SEBI

The largest wine producer in India, Sula Vineyards, has filed paperwork with the market regulator Securities and Exchange Board of India (Sebi) to raise money through an IPO.

It would likely be the second filing in recent weeks by a company from the alcohol & spirits sector and the first IPO in India by a pure play wine manufacturer. Allied Blenders & Distillers, the manufacturer of Officers Choice whiskey, just submitted their draught red herring prospectus.

Sula Vineyards, situated in Nashik, Maharashtra’s grape-growing region, is preparing a pure OFS (offer for sale). The company is supported by Verlinvest, a major shareholder and consumer-focused Belgian family office that made its initial investment more than ten years ago. The company’s MD and CEO is Rajeev Samant.

The promoter, investors, and other shareholders would offer a total of 25,546,186 equity shares in the public offering, according to the draught red herring prospectus (DRHP) submitted to the Securities and Exchange Board of India (SEBI) .

Red, white, and sparkling wines from Sula Vineyards have earned the company recognition as the market leader. The company sells wines under a variety of well-known names, including its main brand, Sula, as well as RASA, Dindori, The Source, Satori, Madera & Dia. Currently, it has four owned and two leased production facilities in Maharashtra and Karnataka that create 56 different labels of wines under 13 different brands.