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.
Sula Vineyards is the largest producer and seller of wine in India, with over 60% market share in elite and premium wines in the domestic 100% grape wine market.