Sula Vineyards Stock: Verlinvest Asia exits Sula Vineyards after 14 years
“Verlinvest and Sula Vineyards Limited have shared a strong and enduring partnership for over 14 years. Verlinvest has sold its remaining stake in the company as part of its investment period and strategy,” Sula Vineyards said in a statement.
Belgium-based Verlinvest, which has investments in India’s Wakefit, Epigamia, Veeba, Purplle and Byju’s among others, sold 70.42 lakh shares at a weighted average price of Rs 576.78 per piece in a block trade on the NSE on Monday.
“We are grateful for Verlinvest’s valuable partnership and contribution to the growth and success of the Indian wine industry,” said Sula.
Morgan Stanley Asia bought 865,500 shares of the company’s stock at an average price of Rs 575 per share, while US-based Mousserena LP bought 2.9 million shares of the company’s stock at an average price of Rs 575.47 per share.
QE Securities, Setu Securities Pvt Ltd, Mansi Share and Stock Advisors and F3Advisors were some of the other buyers who also sold some of the company’s shares. In 2023, Verlinvest sold more than 12% of its stake in the company in a block transaction. It has earned the company over Rs 500 crore in revenue. Among those who acquired stakes in the company are Morgan Stanley, HDFC Mutual Fund and Societe Generale. Berlin Best, which first invested in Sula Vineyards in 2010, holds a 22.45% stake in the company as of March 2022. In health, lifestyle, consumer technology and food and beverage companies.
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