In the recent months, there has been some talk among wine enthusiasts in India about Sula entering the stock market with an IPO (initial public offering). In July, the company had filed for one. Earlier this week, it was confirmed that the Securities Exchange Board of India (SEBI) had approved it.
Sula Vineyards was started by Rajeev Samant in 1996. The name, Sula, is borrowed from his mother’s name Sulabha. Currently, Samant is the promoter, managing director and chief executive officer of the company. Kerry Dameskey is the Master Winemaker who has been with the company for over 20 years.
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The company has grown from strength to strength with a string of launches. In 2000, the brand introduced different grape varietals including Sauvignon Blanc, Chenin Blanc, Zifandel, Riesling and more. In 2005, they opened India’s first tasting room at their winery located in Nashik. In 2008, they introduced the music and wine festival Sula Fest which is believed to be the first of its kind. A 2018 Mint story reported, “India’s largest wine maker, Sula Vineyards Pvt. Ltd, has become the first non-Chinese winery in Asia to cross the 1 million case mark in sales, having sold 1.043 million cases of wine in the 12 months to 31 July (2018).” The brand is a market leader across all wine categories, from red, white to sparkling. At the 2020 edition of the music fest, Sula launched canned wines—another first in India.
In May, Sula Brut Tropicale, a sparkling rosé received a gold medal at the prestigious International Wine Challenge Award. Yet again, it was a first for a wine brand from India. The popular wine Sula Late Harvest Chenin Blanc received a bronze at the awards.
The shares will be sold at a face value of ₹2 per equity share. It is time to become a part of India’s burgeoning wine industry.
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