Sula Vineyards files DRHP with SEBI for IPO

July 19, 2022

New Delhi Wine patron and dealer Sula Vineyards Stations has filed its draft red herring prospectus (DRHP) with requests controller Securities and Exchange Board of India (SEBI), to raise finances through an original public immolation (IPO).

The issue with a face value of Rs 2 per equity share is a complete offer for sale (OFS) aggregating to 25,546,186 equity shares.

The Mumbai- grounded winemaker is one of the swift- growing alcoholic libation companies as of March 31, 2021. It has grown at a composite periodic growth rate of 13.7 per cent between the fiscal time 2011 and 2021, according to a Technopak report, the note in the DRHP mentioned.

Sula Vineyards is the order leader in the Indian wine assiduity in terms of deals volume and value since financial 2009. It set up its first croft in 1996, and in the time 2000 introduced wines similar as Sauvignon Blanc, Chenin Blanc and Riesling.

The note said the company’s businesses include the product of wine, distribution of wines and spirits, and trade of services from power and operation of wine tourism venues including croft resorts and tasting apartments.

The Indian alco- libation request is the third largest in the world after China and USA by volume in terms of factual alcohol content of alco- potables. The wine request in India is anticipated to remain concentrated with high walls to entry, in addition to being trade walls current in the alcoholic libation member.



Sustainability is a guiding principle of life and business for us. We strive to be responsible stewards of our land, not just because it’s the right thing to do but also because it’s the best way to make authentic, distinctive wines. Our commitment to producing the best wines through sustainable winemaking and viticulture operations goes beyond protecting our natural environment.

Green Sula is an initiative undertaken by the company to make their vineyards eco-friendlier as well as more cost-effective. Some of the initiatives include promotion of renewable energy, efficient water harvesting systems and recycling of packaging and solid waste management.


Rajeev Samant’s introduction to wines took place during his early years studying at Stanford University and working at Oracle in California, neither grapes nor wine were at the top of his mind when he returned to India in the early 90s. A chance visit to his family’s land in Nashik – a region well-known for growing table grapes – in 1994 led to the seed of an idea, and before he knew it, he began pursuing the idea of growing wine grapes in Nashik. His curiosity piqued, Rajeev spent three months at a small winery in California that belonged to his friend and mentor – and now Sula’s Master Winemaker – Kerry Damskey.

Working on the frontlines of wine production gave him an inside look into the world of wines, and in 1996 Rajeev established Sula Vineyards, with several other wineries in India following suit over the next decade. The name “Sula” came from his mother’s name – “Sulabha” – and symbolized the rich, Indian heritage of his wines. This was a wine that took pride in being Indian, being the first company in the country to use an Indian logo.

Deeply influenced by his travels and his personal values, Rajeev Samant firmly believes in being a steward of the land and in sustainable business practices. Under his guidance, Sula is one of most sustainable wine businesses in the world with more than 2MW of installed solar PV capacity providing us with over 60% of our annual energy needs. We have a strong viticulture team which works closely with grape growers to assure quality and quantity as per our needs.

Rajeev is also a leading advocate for India’s wine industry and is actively sought out to represent the interests of India’s wine producers and farmers to national and state Governments.


Over the last 20 years, Sula has grown and established itself as a pioneer, innovator and leader in the Indian wine industry. From the sale of our first bottle of wine in 1999 to being the best wine brand in India, we’ve come a long way and today, our exquisite Sula wines have achieved a cult status the world over.

We take pride in our winemaking process where time and patience are just as important as quality wine grapes. A labour of love, each bottle of Sula wine is nothing short of a work of art. Throughout our journey, we’ve achieved milestones and set new benchmarks with our carefully crafted range of wines. Join us on this journey as we continue to blaze new trails.