Sunshine Pictures IPO Subscribed Fully Within 90 Minutes On Day 1, Retail Demand Leads Charge
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Sunshine Pictures IPO saw its Rs 282-crore issue fully subscribed within 90 minutes of opening, driven by strong retail demand across the retail and non-institutional categories.
The initial public offering of Sunshine Pictures Ltd was fully subscribed within 90 minutes of opening for bidding on Tuesday, August 18, driven by strong demand from retail investors. The issue received bids for 54.59 lakh shares against 54.86 lakh shares on offer as of 11:30 AM, according to NSE data.
Sunshine Pictures IPO Subscription Status Day 1
The retail portion was subscribed 1.49 times, while the non-institutional investor category was covered 1.16 times as of 11:30 AM. The three-day bidding window will remain open until August 20.
The Rs 282.14 crore IPO has a price band of Rs 342-360 per share and a lot size of 41 shares. At the upper end of the price band, retail investors need to invest Rs 14,760 for one lot.
The strong response comes a day after Sunshine Pictures, promoted by film and television producer-director Vipul Shah, raised Rs 84.64 crore from nine anchor investors. The company allotted 23.51 lakh shares at Rs 360 apiece, the upper end of the price band.
Uni Growth Fund was the largest participant in the anchor book, subscribing to 5.55 lakh shares worth nearly Rs 20 crore. Khandelwal Finance, Zeal Global Opportunities Fund, The Asio Fund VCC and Shine Star Build Cap Pvt Ltd each subscribed to 2.77 lakh shares worth about Rs 10 crore. Innovative Vision Fund, Arnesta Global Opportunities Fund, Visionary Value Fund and LRSD Securities Pvt Ltd were the other anchor investors.
Sunshine Pictures IPO Details
The IPO comprises a fresh issue of 48 lakh shares aggregating Rs 172.80 crore and an offer for sale of 30 lakh shares worth Rs 109.34 crore. Promoters Vipul Amrutlal Shah and Shefali Vipul Shah are selling shares through the OFS, with Vipul Shah offloading 20.31 lakh shares and Shefali Shah selling 10.06 lakh shares.
Sunshine Pictures plans to use up to Rs 112.50 crore from the fresh issue towards long-term working capital requirements, with the remaining proceeds earmarked for general corporate purposes.
Incorporated in 2007, Sunshine Pictures operates across films, television, web content, music and digital originals. Its filmography includes Force, its debut production, followed by titles such as Commando, Holiday: A Soldier Is Never Off Duty, The Kerala Story and Bastar.
The company has produced 13 films to date, comprising seven co-productions and six self-produced titles, in addition to two web series, three television serials and a short commercial film. It currently has six films and two web series in the pipeline, including Hisaab, co-produced with Jio Studios, and Samuk and Nanavati vs Nanavati for Amazon, both slated for release in FY27.
For the financial year ended March 2026, Sunshine Pictures reported standalone revenue of Rs 74.43 crore and profit of Rs 40.02 crore.
The share allotment is expected to be finalised on August 21, while the company's shares are scheduled to list on the NSE and BSE on August 25. GYR Capital Advisors Pvt Ltd is the book-running lead manager for the issue, while Bigshare Services Pvt Ltd is the registrar.
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Rochelle Britto is a business journalist with 8+ years of experience in financial journalism. She covers equity markets, corporate earnings, IPOs, commodities and the economy.
As a reporter with leading business publications, she has tracked financial markets and covered sectors including banking and financial services, retail, consumer goods, advertising and e-commerce.
Outside work, she enjoys travelling, discovering local cultures and spending time in nature.
