Leading wine producer Sula Vineyards has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue will be entirely an offer for sale (OFS) aggregating to 25,546,186 equity shares by the promoter, investors and other shareholders, according to the draft red herring prospectus (DRHP) filed with Securities and Exchange Board of India (Sebi). Sula Vineyards has been recognized as the market leader across wine variants, including red, white and sparkling wines. The company distributes wines under a bouquet of popular brands such as Sula, its flagship brand, besides other popular …
