Sunshine Pictures IPO Oversubscribed 6x on Day 2

Sunshine Pictures Ltd.’s Initial Public Offering saw its subscription hit 6.04 times on Day 2, concluding August 19. This demand was primarily driven by Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs).

The IPO, promoted by film and television producer-director Vipul Shah, is open from August 18 to August 20. Its price band is set between Rs 342 and Rs 360 per share.

Subscription Dynamics

• Non-Institutional Investors (NIIs) subscribed 9.84 times.
• Retail Individual Investors (RIIs) subscribed 7.84 times.
• The total offer size is 78.37 lakh shares, including a fresh issue of 48 lakh equity shares.
• An offer-for-sale of 30.37 lakh equity shares by promoters Vipul Amrutlal Shah and Shefali Vipul Shah is also part of the IPO.

Financial Snapshot

The company has already secured Rs 84.64 crore from nine anchor investors. These investors were allotted over 23.51 lakh equity shares at the upper price band of Rs 360 apiece.

At the upper end of its price band, Sunshine Pictures is valued at an implied post-issue market capitalization of approximately Rs 1,121 crore. The Grey Market Premium (GMP) for the IPO stood at Rs 77 as of August 19, 2026, indicating an estimated listing price of Rs 437, a potential gain of 21.39% per share.

Utilisation and Listing

Sunshine Pictures plans to allocate Rs 112.50 crore from the fresh issue. These funds are earmarked for long-term working capital requirements and general corporate purposes.

Known for productions like ‘The Kerala Story’ and ‘Singh Is Kinng’, the company expects its shares to list on both the BSE and NSE on August 25.