Sula Vineyards IPO listing date today. Experts predict ’flat’ debut of shares

  • Sula Vineyards IPO GMP today: Shares of the wine maker company are available at a discount of 15 in grey market today, say market observers

Asit Manohar
Updated22 Dec 2022, 06:06 AM IST
In case of weak market opening, Sula Vineyards shares may open at 3-5 per cent discount, say experts.
In case of weak market opening, Sula Vineyards shares may open at 3-5 per cent discount, say experts.(AFP)

Sula Vineyards IPO listing date has been fixed on 22nd December 2022. As per the information available on BSE website, Sula Vineyards shares are going to become available for trading from 22nd December 2022 i.e. today on BSE and NSE. The BSE notice went on to add that Sula Vineyards shares listing will take place in a special pre open session on Thursday morning.

Informing about Sula Vineyards share listing date, BSE notice says, "Trading Members of the Exchange are hereby informed that effective from Thursday, December 22, 2022, the equity shares of Sula Vineyards Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." However, due to weak stock market sentiments both experts and grey market are signaling flat debut of Sula Vineyards shares on Dalal Street.

According to stock market experts, sentiments of the primary markets have tumbled following weakness on Dalal Street for the last two straight sessions. In fact, Sula Vineyards received tepid response from investors as well. They said that Sula Vineyards share price may have a tepid to discounted listing on Indian bourses. They said that much will depend upon the market opening. In bulls case, we can expect a positive opening for the wine maker and seller company. However, in case of weak opening, the stock may open at around 3 to 5 per cent discounted opening.

Speaking on Sula Vineyards IPO listing, Santosh Meena, Head of Research at Swastika Investmart said, "Sula Vineyards Ltd enjoys the benefit of high entry barriers and has the largest wine distribution network and sales presence. Its financial performance is also improving. This issue of Sula Vineyards had a P/E valuation of 54.67, which seems fully priced; the issue, however, was a complete offer for sale, and low promoter holdings is also a concern. Looking at the current market conditions, it will not be fair to hope much from its listing, and we can expect a flat to negative listing."

Abhay Doshi, Founder at UnlistedArena.com said, "The sentiments of primary markets have again tumbled after short span of activities. Sula Vineyards got a tepid response, likely owing to the factors like the issue being a complete OFS and lack in revenue growth which made investors wary. Secondary market too has lost its grip which may dampen the listing. Thus, the listing may not be cheerful and even chances of discount listing cannot be ruled out."

Asked about Sula Vineyards IPO listing price that an allotte can expect, Ravi Singhal, CEO at GCL Securities said, "Much will depend upon the kind of opening we get on Dalal Street. In case of positive opening, we can expect Sula Vineyards share price to open above its issue price. But, in case of weak stock market opening, we can expect Sula Vineyards shares to list at 3 to 5 per cent discount." However, Ravi Singhal of GCL Securities maintained that Sula Vineyards shares are good stock to buy for long term. He said that struggling secondary market and fully OFS is the major reason for Sula Vineyards IPO getting tepid response from investors.

What Sula Vineyards IPO GMP signals

According to market observers, Sula Vineyards IPO grey market premium (GMP) today is negative today. They said that shares of Sula Vineyards Ltd are available at a discount of 15 in grey market today. This means, grey market is signaling that Sula Vineyards IPO listing may take place around 342 ( 357 - 15) per equity share.

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.

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First Published:22 Dec 2022, 06:06 AM IST
HomeMarketsIPOSula Vineyards IPO listing date today. Experts predict ’flat’ debut of shares

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