Sula Vineyards moves up on getting nod to execute Share Purchase Agreement with shareholders of N D Wines
Sula Vineyards is currently trading at Rs. 557.75, up by 4.50 points or 0.81% from its previous closing of Rs. 553.25 on the BSE.
The scrip opened at Rs. 555.05 and has touched a high and low of Rs. 564.80 and Rs. 554.35 respectively. So far 19623 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 699.75 on 09-Jan-2024 and a 52 week low of Rs. 351.00 on 11-Apr-2023.
Last one week high and low of the scrip stood at Rs. 569.00 and Rs. 552.00 respectively. The current market cap of the company is Rs. 4722.16 crore.
The promoters holding in the company stood at 26.27%, while Institutions and Non-Institutions held 39.25% and 34.48% respectively.
Sula Vineyards has received approval for execution of the share purchase agreement (SPA) with the existing shareholders of N D Wines for the purchase of entire shareholding of 32,80,000 equity shares, which would result in the company holding 100% of the equity share capital of N D Wines thus making it a wholly owned Subsidiary. The acquisition will be completed by April 30, 2024. The Board of Directors of the company at their meeting held on April 4, 2024, approved the same.
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’. Furthermore, the company is also recognized as the market leader across wine variants, including red, white and sparkling wines.
