The initial public offer (IPO) of India’s largest wine producer and seller Sula Vineyards (Sula) has opened for subscription and will close on Wednesday, December 14. The issue is entirely an offer-for-sale with 26.9 million shares on the offer, which could fetch Rs 915-960 crore to the promoters and selling shareholders. The price band is fixed at Rs 340-357. As per iPOWatch, the stock is currently commanding a grey market premium (GMP) of 11 per cent over the upper price band.
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