Sula Vineyards shares dropped 8% as Verlinvest reportedly offloaded shares in a block deal. The vine maker is based in Nashik. Kotak Mahindra Capital acted as the broker for the deal. Other FII investors in the company include Jupiter India Fund, Goldman Sachs, and Abu Dhabi Investment Authority.
Shares of Sula Vineyards Ltd slipped over 8% today amid reports of a block deal wherein 12% equity changed hands. Shareholder Verlinvest sold its entire 8.34% stake in the Nashik-based wine maker, according to reports. However, Sula Vineyards issued a statement to bourses about a report on stake sale.