Winemaker Sula to test IPO market after tech unicorns flop
The winemaker is looking to go public at a time when IPOs have dried up in India, as in much of the world, amid concerns of a recession. Young retail traders who helped drive the local stock market over the past couple years have been burned in recent months by plunges in high-flying tech unicorns such as Zomato Ltd. and Paytm parent One 97 Communications Ltd.
