Sula Vineyards IPO: Subscription status and latest GMP on Day 2 of bidding

After tepid response by investors, grey market sentiments have gone down after climbing above ₹55 levels on weekend. According to market observers, shares of Sula Vineyards Ltd are available at a premium of ₹31 in grey market today. Grey market premium (GMP) of Sula Vineyards IPO was ₹34 on day one of bidding. So, after weak response by investors, Sula Vineyards IPO GMP today has gone down by ₹3 in comparison to its yesterday’s GMP.

Market observers went on to add that Sula Vineyards IPO GMP today is ₹31 that means grey market is expecting that Sula Vineyards IPO listing would take place around ₹388 ( ₹357 + ₹31), which is around 8.50 per cent higher from its price band of ₹340 to ₹357 per equity share.

Sula Vineyards IPO subscription status

By 10:44 AM on day 2 of bidding, the public issue has been subscribed 0.35 times, its retail portion has been subscribed 0.61 times whereas it has been subscribed 0.21 times in NII category.

Should you apply

Giving subscribe tag to Sula Vineyards IPO, Ashika Research report says, “Sula is India’s largest wine producer and seller with a market share of 52% in the Indian wine industry. The company is also the market leader across all 4 price segments, being ‘Elite’ ( ₹950+), ‘Premium’ ( ₹700-950), ‘Economy’ ( ₹400-700) and ‘Popular (

Giving ‘subscribe’ tag for long term, Anand Rathi report says, “At upper price band Sula vineyards limited is available at P/E 35.8x and market cap of ₹ 30,058 million post issue of equity shares and return on net worth of 11.45%. We believe Sula vineyards limited IPO is fairly priced and recommend a “Subscribe- Long Term” rating to the IPO.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.