Sula Vineyards has received approval for investment in the equity shares of wholly owned subsidiary of the company -- Artisan Spirits (ASPL), up to an amount not exceeding Rs 15 crore by way of subscription to rights issue up to 1,13,12,217 equity shares of Rs 13.26 each, at a premium of Rs 3.26 per share. The Board of Directors of the company at their meeting held on May 8, 2025, has, inter alia, approved the same.
The said investment is being made by the company to improve the net worth position of ASPL and amount raised by issue of shares on rights basis can be utilized towards repayment of loan taken from parent company. The acquisition is expected to be completed before June 30, 2025.
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’.
