Sula Vineyards gains on getting nod to make investment in wholly owned subsidiary
Sula Vineyards is currently trading at Rs. 272.65, up by 1.95 points or 0.72% from its previous closing of Rs. 270.70 on the BSE.
The scrip opened at Rs. 265.65 and has touched a high and low of Rs. 276.05 and Rs. 262.70 respectively. So far 15090 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 545.50 on 03-Jun-2024 and a 52 week low of Rs. 242.55 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 289.95 and Rs. 262.70 respectively. The current market cap of the company is Rs. 2301.43 crore.
The promoters holding in the company stood at 24.66%, while Institutions and Non-Institutions held 26.22% and 49.12% respectively.
Sula Vineyards has received approval for investment in the equity shares of wholly owned subsidiary of the company -- Artisan Spirits (ASPL), up to an amount not exceeding Rs 15 crore by way of subscription to rights issue up to 1,13,12,217 equity shares of Rs 13.26 each, at a premium of Rs 3.26 per share. The Board of Directors of the company at their meeting held on May 8, 2025, has, inter alia, approved the same.
The said investment is being made by the company to improve the net worth position of ASPL and amount raised by issue of shares on rights basis can be utilized towards repayment of loan taken from parent company. The acquisition is expected to be completed before June 30, 2025.
Sula Vineyards is India’s largest wine producer and seller. The company is the market leader across all four price segments, being ‘Elite’, ‘Premium’, ‘Economy’ and ‘Popular’.
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