Sula Vineyards plans Rs.1,400-Cr IPO

Nashik-based Sula Vineyards is to file for an initial public offering (IPO) of INR 1,200-1,400 crore. The company has appointed Kotak Mahindra Capital, CLSA, and IIFL as the merchant bankers which will comprise a fresh issue of shares and an offer for sale from some existing investors. The winemaker, which set up its first winery in 1999, has over 13 brands and sells them through a distribution network across 24 states. Sula has been backed by investors including Verlinvest, Everstone Capital, Visvires, Saama Capital and DSG Consumer Partners.