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GEM INDIA Advisors(GIA) an india-focused private equity has picked up close to 30% stake for an investment of Rs 15 crore in the Nashik based Sula Vineyards.The funds will be used to built a third ,state-of-the-art winery in Nashik with a one-million liter capacity and to repay existing debt. Rajeev Samant, CEO ,Sula Vineyards said about the transaction that "Today Sula is percieved as a premieum brand and we aim to be on the global map.Our efforts in this direction are further strengthened by this investment GIA." Samant informed that The transaction ,only comprehends the wine company and does not include the 330 acres of the vineyards of Sula.Deepak Shahdadpuri founder and Managing director of GIA said" GIA is seeking to make investments in market leading companies in consumer related sectors where we see positive macro and micro trends. We identified the Indian wine industry and Sula in particular as offering significant growth opportunities." Discussing about the current industry investments Samant said" The wine industry is growing through positive phase. Industry has been growing at the rate of 25-30% per annum and this growth levels are expected to continue." Sule Vineyards has been growing at a faster pace and in the current fiscal the company is expected to sell over a million bottles of wine thereby trying to garner a 20% share of the market. |
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| Posted : 10/1/2005 |
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