| Summary: | The events in this case follow the first Sula case, that was published in the Case Research Journal in 2008. Rajeev successfully guided Sula Vineyards through the “Great Recession,” and it emerged as the number one producer of premium wines in India. Sula has also developed a growing “hospitality” operation that complements and enhances its wine business. In early 2013, management was considering how fast to grow over the next five years, and how funds should be obtained to support strategic initiatives. Rajeev has utilized two private equity deals to supplement both short- and long-term borrowings. With negative free cash flow due to the rapid expansion of assets, the paramount challenge was to finance growth while maintaining operating control of his company.
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