Two entities divests 11.8% stake in Sula Vineyards for Rs 573 crore | Company News – Business Standard
The Sula Vineyards in Nashik | Photo: Kamlesh Pednekar
Investment firm Verlinvest Asia Pte and Mousserena LP divested a total of 11.8 per cent stake in leading wine producer Sula Vineyards for Rs 573 crore through open market transactions.
Verlinvest Asia Pte offloaded 70,42,275 shares representing 8.34 per cent equity stake of Sula Vineyards and Mousserena LP disposed of 29,00,000 shares representing 3.44 pc stake of the Nashik-based wine producer, as per bulk deal data with the NSE.
The shares were sold in a price range of Rs 575.47-576.78 apiece, taking the combined transaction value to Rs 573.07 crore.
After the latest transaction, Verlinvest Asia Pte has exited the firm by selling its entire stake, while Mousserena LP’s shareholding has declined to 0.22 per cent from 3.66 per cent stake in the firm.
Meanwhile, Morgan Stanley Asia Singapore Pte acquired more than 8.65 lakh shares, representing a 1.03 per cent stake in Sula Vineyards for Rs 50 crore.
The shares were bought at an average price of Rs 575 per piece, taking the deal value to Rs 49.76 crore, as per the data.
Details of other buyers could not be ascertained.
On Monday, shares of Sula Vineyards tumbled 8.02 per cent to close at Rs 568 apiece on the NSE.
Last year in September, Verlinvest Asia Pte Ltd had divested a 12.56 per cent stake in Sula Vineyards for Rs 513 crore.
Since going public on the stock markets in December 2022, Sula Vineyards shares have risen 86 per cent.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Feb 19 2024 | 11:08 PM IST