Sula Vineyards announced that it has granted its workers 19,271 equity shares under the Employee Stock Option Scheme 2021. The company stated in an exchange filing on the Indian bourses that the stocks are being allotted at the face value of Rs 2 each.
On 13 April, the Board of Directors of Sula Vineyards approved the allotment of the equity. The shares under ESOP 2021 will be equal in all respects to Sula Vineyards' existing equity shares, according to the business. This means that the stocks are on an equal basis with the winemaker's other publicly traded shares in Nashik.
The exercise price for these shares will be Rs 170 per share. The premium per share is thus Rs 168. Following this ESO scheme, Sula Vineyards' total stock of shares issued is 8,42,77,069 shares.
Sula Vineyards' paid-up share capital has increased by Rs 38,542 since the issue. It is now worth Rs.16,85,54,138. Paid-up capital is the amount of money a company receives from its shareholders in exchange for its stock. This capital is created when a corporation sells its shares to investors directly, i.e. on the main market.
The allocation comes four months after the winery's initial public offering (IPO) in December of last year. It was the first IPO in the South Asian country by a vintner. Sula's shares were trading at Rs 389.75 on the National Stock Exchange and Rs 388.1 on the Bombay Stock Exchange at 3:59 p.m. on 13 April.
Sula, founded in 1996 by current CEO Rajeev Samant, is India's largest wine producer and seller. Its portfolio contains 56 labels from 20 worldwide brands as well as 13 of its own.