Fratelli Vineyards to Go Public: India’s #2 Wine Brand Aims for ₹650 Crore Valuation by 2028

Fratelli Vineyards, India’s second-largest wine brand with a 35% market share, is preparing to list on the stock exchanges this week. This follows a share-swap deal with Tinna Trade India, a listed company that has acquired Fratelli Wines.

The company, which is targeting a ₹650 crore valuation by 2028, has seen its wine sales grow despite challenges in the global wine market. The slowdown in European wine consumption, partly due to geopolitical issues, has led European producers to eye the Indian market more eagerly.

Gaurav Sekhri, Managing Director of Fratelli Wines and Tinna Trade, said the Indian wine market is improving, with consumption moving beyond major cities to places like Lucknow and Nagpur. Sekhri believes that, despite the growth, Indian wines still face competition from imported ones, and government support is crucial.

Fratelli Vineyards has raised ₹72.6 crore in the last two years, with plans to expand its production capacity from 5 lakh to 15 lakh cases annually. Currently, it has four wineries in Maharashtra and Karnataka, with a total capacity of 4.7 million liters.

The company has doubled its revenue from ₹129.5 crore in FY21 to ₹246.9 crore in FY24, showing strong growth. Fratelli plans to use the stock market listing to further build its brand and raise capital.

India’s wine market is expected to grow at 10% annually until 2027, with significant increases in wine consumption over recent years. Fratelli aims to capitalize on this growth and strengthen its position in the market.