Refile: BUZZ-India's Sula Vineyards slides on report of stake sale

Sula Vineyards

31/08/2023 05:08

(Adds dropped word rupees in 3rd bullet)
    ** Shares of Sula Vineyards  SULA.NS  fall ~3% to 493.45
rupees in heavy volumes
    ** Verlinvest is looking to sell up to 12.56% stake in the
Indian winemaker via a block deal, CNBC-TV18 reports
    ** Block deal price is 473 - 508.7 rupees per share, with a
total size of 5.39 bln rupees ($65.2 mln), report adds
    ** If sale proceeds, Verlinvest will be unable to sell
further shares for 60 days - CNBC-TV18
    ** SULA and Verlinvest did not immediately respond to
Reuters requests for comment
    ** SULA trading vol as of 09:30 a.m. IST is ~22x the 30-day
moving avg
    ** As of last close, stock up ~53% so far this year
 
 ($1 = 82.6500 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))