Sula Vineyards Limited Initial Public Offering to open on December 12, 2022, sets

Sula Vineyards Limited Initial Public Offering to open on December 12, 2022, sets price band at ₹340 to ₹357 per Equity Share

 

Sula Vineyards Limited, the country’s largest wine producer and seller and a consistent market leader in the Indian wine industry in terms of sales volume and value since Fiscal 2009 has fixed the price band at ₹340 to ₹357 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Monday, December 12, 2022, for subscription and closes on Wednesday, December 14, 2022. Investors can bid for a minimum of 42 Equity Shares and in multiples of 42 Equity Shares thereafter.

 

 The public issue with a face value of Rs 2 per equity share is a complete offer for sale (OFS) aggregating to 26,900,530 equity shares by existing shareholders.

Sula set up its first vineyard in 1996 and in the year 2000 was the first to introduce varietal wines in India with the launch of Sauvignon Blanc, Chenin Blanc, Zinfandel, Riesling, Red Sparkling, and dessert wine offerings. In Fiscal 2005 it launched the first wine tasting room in India at its winery in Nashik, Maharashtra followed by country’s first vineyard resort in 2008, and in the same year, the wine-maker launched the first wine-themed music festival in India, “SulaFest”, at its Nashik facility in 2008. “SulaFest” has been widely recognized as the largest wine music festival in India and one of the largest wine music festivals in Asia, based on attendance. In Fiscal 2017, it launched a wine tasting room at its “Domaine Sula” facility in Karnataka.

The Mumbai-based wine maker is one of the fastest growing alcoholic beverage companies in India as of March 31, 2021 and has grown at a CAGR of 13.3% between Fiscals 2011 and 2022 according to Technopak report as mentioned in the DRHP. On the basis of total revenue from operations, it has gained market share from 33% in Fiscal 2009 in 100% grapes wine category to 52% in value in Fiscal 2022. Its business can be broadly classified under production of wine, import & distribution of wines and spirits and sale of services from ownership and operation of wine tourism venues including vineyard resorts and tasting rooms.

Sula’s Shiraz Cabernet is India’s largest selling wine by value in Fiscal 2021, with its gross billings amounting to Rs 91.83 crore in FY22. Recently it won five silvery and four bronze at the “Decanter World Wine Awards, 2022 and its Brut Tropicale won a gold medal at the International Wine Challenge 2022.

The company’s revenue from operations increased by 40.79% from Rs 159.15 crore for six months ended September 30, 2021 to Rs 224.07 crore for the six months ended September 30, 2022, primarily due to increase in sales of manufactured goods under its brands, increase in selling price of wine in select brands and markets, increase in revenue due to increased focus on premiumisation, favourable response its wine tourism business and increase in revenue from other operating income (government grants).whereas its profit after tax during the period increased by 573.19% per cent from Rs 4.53 crore for the six months ended September 30, 2021 to Rs 30.51 crore for the six months ended September 30, 2022.

 

Kotak Mahindra Capital Company Limited, CLSA India Private Limited and IIFL Securities Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

Leading Cement Company, Nuvoco Vistas’s

 Leading Cement Company, Nuvoco Vistas’s Rs.5,000 Crores IPO to open on August 09, 2021, sets price band of Rs. 560 - Rs. 570 per equity share

 

·       Price Band of Rs. 560 – Rs. 570 per equity share bearing face value of Rs. 10/- each (“Equity Shares”).

·       Aggregate Offer Size up to Rs. 5,000 crores i.e. Fresh Issue of Equity Shares aggregating up to Rs. 1,500 crores and an Offer for Sale aggregating upto Rs. 3,500 crores.

·       Bid/Offer Opening Date – Monday, August 09, 2021 and Bid/Offer Closing Date – Wednesday, August 11, 2021.

·       Minimum Bid Lot is 26 Equity Shares and in multiples of 26 Equity Shares thereafter.

·        The Floor Price is 56 times the face value of the Equity Share and the Cap Price is 57 times the face value of the Equity Share.

 

Nuvoco Vistas Corporation Limited (“Nuvoco Vistas” or the “Company”), is the fifth largest cement Company in India and the largest cement company in East India in terms of capacity and one of the leading ready mix concrete manufacturers in India (Source: CRISIL Report). As of March 31, 2021, the Company had 11 Cement Plants with a consolidated installed manufacturing capacity of 22.32 MMTPA.

 

The Company’s leadership team is led by Mr. Hiren Patel, Chairman and Non-Executive Director and Mr. Jayakumar Krishnaswamy, Managing Director.

 

Nuvoco Vistas is proposing to open its initial public offering of Equity Shares (the “Offer”) on Monday, August 09, 2021 and close on Wednesday, August 11, 2021. The price band for the Offer has been determined at Rs. 560 – Rs. 570 per Equity Share.

 

The total Offer size is up to Rs. 5,000 crores with a fresh issuance of Equity Shares, aggregating up to                          Rs. 1,500 crores and an offer for sale of Equity Shares aggregating up to Rs. 3,500 crores, by Niyogi Enterprise Private Limited (the “Promoter Selling Shareholder”).

The Company intends to utilize the proceeds of Rs. 1,350 crores from the fresh issue for repayment/prepayment/redemption, in full or part, of certain borrowings availed of by our Company, besides general corporate purposes.

ICICI Securities Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, JP Morgan India Private Limited and SBI Capital Markets Limited are the book running lead managers to the Offer (“BRLMs”).

The Company and the Promoter Selling Shareholder have, in consultation with the BRLMs, considered participation by Anchor Investors, whose participation shall be one Working Day prior to the bid/offer opening Date, i.e. Friday, August 06, 2021. The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated July 30, 2021 (“RHP”) filed with the Registrar of Companies, Maharashtra at Mumbai (“RoC”).

Disclaimers: NUVOCO VISTAS CORPORATION LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public issue of Equity Shares and has filed the RHP with the RoC and thereafter with SEBI and the Stock Exchanges. The RHP shall be available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the BRLMs, i.e. ICICI Securities Limited at www.icicisecurities.com, Axis Capital Limited at www.axiscapital.co.in, HSBC Securities and Capital Markets (India) Private Limited at www.business.hsbc.co.in/en-gb/in/generic/ipo-open-offer-and-buyback, J.P. Morgan India Private Limited at www.jpmipl.com and SBI Capital Markets Limited at www.sbicaps.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see "Risk Factors" beginning on page 25 of the RHP. These materials are not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). These materials are not an offer of securities for sale into the United States, Canada or Japan. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

 

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to page 420 of the RHP for the full text of the disclaimer clause of SEBI.

 

DISCLAIMER CLAUSE OF BSE (Designated Stock Exchange): It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 423 of the RHP for the full text of the disclaimer clause of the BSE.

 

DISCLAIMER CLAUSE OF NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 423 of the RHP for the full text of the disclaimer clause of NSE.

 

Metropolis Healthcare Limited: Initial public offering to open on April

Metropolis Healthcare Limited: Initial public offering to open on April 03, 2019 and to close on April 05, 2019

Price Band: Rs. 877 to Rs. 880 per Equity Share

 Metropolis Healthcare Limited (the “Company”), one of the leading diagnostics companies in India, by revenue, as of March 31, 2018 (Source: Frost & Sullivan) proposes to open its initial public offering (“IPO”) of Equity Shares on April 03, 2019*. 

The IPO consists of 13,685,095 equity shares of face value of Rs. 2 each (“Equity Shares”) consisting of an Offer for Sale of up to 6,272,335 Equity Shares by Dr. Sushil Kanubhai Shah (the “Promoter Selling Shareholder”) and up to 7,412,760 Equity Shares by CA Lotus Investments (the “Investor Selling Shareholder”) (the “Offer”). The Offer includes a reservation of up to 300,000 Equity Shares, for subscription by Eligible Employees (the “Employee Reservation Portion”). The Offer less the Employee Reservation Portion is hereinafter referred to as the “Net Offer”, and such Net Offer aggregates up to 13,385,095 Equity Shares.

The Bid/Offer Closing Date is on April 05, 2019. The Price Band for the Offer is from Rs. 877 to Rs. 880 per Equity Share. Bids can be made for a minimum lot of 17 Equity Shares and in multiples of 17 Equity Shares thereafter.

The Equity Shares are proposed to be listed on BSE and NSE (the “Stock Exchanges”).

The Book Running Lead Managers (“BRLMs”) to the Offer are JM Financial Limited, Credit Suisse Securities (India) Private Limited, Goldman Sachs (India) Securities Private Limited, HDFC Bank Limited and Kotak Mahindra Capital Company Limited.

The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the Offer for Sale.

In terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”), the Offer is being made for at least 10% of the post-Offer paid up Equity Share capital of the Company. Further, the Offer is being made through the Book Building Process, in compliance with Regulation 26(2) of the SEBI ICDR Regulations, wherein at least 75% of the Net Offer shall be Allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that the Company and the Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors, on a discretionary basis (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of undersubscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion. Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only.

The remainder of the QIB Portion shall be available for allocation on a proportionate basis to QIBs, subject to valid Bids being received from them at or above the Offer Price. If at least 75% of the Net Offer cannot be allotted to QIBs, the entire application money shall be refunded forthwith. Further, not more than 15% of the Net Offer will be available for allocation on a proportionate basis to Non-Institutional Investors and not more than 10% of the Net Offer will be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank account in which the Bid amount will be blocked by the SCSBs or under the UPI mechanism, as the case may be. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.

*The Company and the Selling Shareholders may in consultation with the Book Running Lead Managers, consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date; i.e., April 02, 2019.