NOVABEV can conduct an IPO of the Winlab Alcomarket Networks

NOVABEV Group can be held by the IPO of the Winlab alcohol chains. The decision is designed to increase the capitalization of the entire group, which reaches 7.2 billion rubles. While the main business of the company stagnates, the retail direction, on the contrary, still showed severe growth. But the period of extensive development of alcoholmarkets ends: they are pressed by the restrictions of the regional authorities.

On April 2, NOVABEV GROUP will consider NOVABEV Group the possibility of conducting the IPO of its subsidiary of Winlab JSC (retail network), follows from the message Corporate information disclosure center. Novabev Group did not specify the planned placement volumes.

NOVABEV Group has been developing alcohollab alcoholmarkets since 2010. According to Infoline, at the end of February 2025, the network has 2.08 thousand stores. Over the year, their number increased by 22.83%. The network is engaged in the distribution of alcohol from Italy, Spain, Germany, Chile, Japan and other countries. The volume of Vinlaba sales over the past year increased by 27.5%, traffic by 11.2%, the average check – by 14.6%, follows from NOVABEV Group data. Absolute numbers in the group were not brought. According to Alfa-investment analysts, according to the results of 2024, Vinlab revenue amounted to 86 billion rubles.

Senior Analyst BCS World Investments, Maria Sukhanova, says that usually an IPO “Daughter” is designed to reduce the debt of a mother’s company or attract funds to business. But this scenario is hardly applicable for Novabev. The company has products for development: the cash flow is positive, and the debt load is low. The expert does not exclude that the IPO « Vinlaba » can be aimed at revaluing the entire business of the group.

Senior analyst at Gazprombank Marat Ibrahimov explains that the main business novabev, distribution of alcohol, is now stagnating, and this is pressure on the cost of shares. The retail direction of the group, on the contrary, is growing and can be interesting to investors. Its public placement can determine the real cost of the entire business and, as a result, increase capitalization. Further actions are difficult to predict, but Mr. Ibragimov does not exclude a partial or complete sale of a business.

At the same time, Mrs. Sukhanova notes that after the IPO Vinlab, some investors will begin to flow from the novabev papers into the retailer’s promotion due to the best financial indicators. This can create risks for shareholders of the mother company.

Although in the moment the market reacted positively to the news: on April 1, Novabev Group shares on the Moscow Exchange went up by 6.8%, to 573.5 rubles. For paper, capitalization reached 7.2 billion rubles.

An independent expert of the alcoholic market, Alexei Malsin, calls the IPO network of alkomarkets risky due to the intensifying struggle of the regional authorities. Since March, in the Vologda region, alcohol trade was limited to two hours a day, which led to the closure of specialized stores. The expert is sure that any further oppression can affect the business and the cost of networks. The extensive growth time of alcoholmarkets has passed, said Pavel Shapkin, head of the Center for the Development of National Alcohol Policy. In negatively, the development of business, in his opinion, may also be reducing consumption among youth of strong alcohol. According to the Rosalkolletabakkontrol, in 2024, sales of alcoholic beverages, with the exception of beer, beer drinks, cider, pora and meads, were reduced by 1.1%, and gave to 226.9 million.

Vladimir Komarov