Sula Vineyards shareholder Verlinvest looks to sell up to 12.5% stake- CNBC-TV18

(Reuters) – Indian winemaker Sula Vineyards’ shareholder Verlinvest is looking to sell up to a 12.56% stake in the company through a block deal, CNBC-TV 18 reported on Wednesday.

The block price of the deal may be in the range of 473-508.7 rupees per share with a total size of 5.39 billion rupees ($65.38 million), the report said.

If the sale proceeds, Singapore-based investment firm Verlinvest Asia will not be able to sell further shares until 60 days, CNBC-TV18 added.

Sula Vineyards and Verlinvest did not immediately respond to Reuters requests for comment.

($1 = 82.5880 Indian rupees)

(Reporting by Shubhendu Deshmukh in Bengaluru; Editing by Shailesh Kuber)