Winemaker Sula to test IPO market after tech unicorns flop

The winemaker is looking to go public at a time when IPOs have dried up in India, as in much of the world, amid concerns of a recession. Young retail traders who helped drive the local stock market over the past couple years have been burned in recent months by plunges in high-flying tech unicorns such as Zomato Ltd. and Paytm parent One 97 Communications Ltd.

Winemaker Sula to test IPO market after tech unicorns flop
The winemaker is looking to go public at a time when IPOs have dried up in India, as in much of the world, amid concerns of a recession. Young retail traders who helped drive the local stock market over the past couple years have been burned in recent months by plunges in high-flying tech unicorns such as Zomato Ltd. and Paytm parent One 97 Communications Ltd.