Vipul Shah’s Sunshine Pictures To Float Rs 282-Cr IPO on Aug 18; Price Band Set at Rs 342–360

New Delhi: Film and television producer-director Vipul Shah-promoted Sunshine Pictures Ltd will open its Rs 282-crore initial public offering (IPO) for subscription on August 18, with a price band of Rs 342-360 per share.

The three-day public issue will close on August 20, while bidding by anchor investors will take place on August 17, according to a public announcement on Tuesday.

The IPO comprises a fresh issue of 48 lakh equity shares and an offer for sale (OFS) of 30.37 lakh equity shares, taking the total offer size to 78.37 lakh shares.

Promoters Vipul Amrutlal Shah and Shefali Vipul Shah will sell shares through the OFS. Vipul Shah will offload 20.31 lakh shares, while Shefali Shah will sell 10.06 lakh shares.

The company plans to utilise up to Rs 112.50 crore from the fresh issue to meet its long-term working capital requirements, with the remaining proceeds earmarked for general corporate purposes.

The proposed listing is expected to enhance Sunshine Pictures’ visibility, strengthen its brand image and create a public market for its equity shares in India.

At the upper end of the price band, Sunshine Pictures is valued at an implied post-issue market capitalisation of around Rs 1,121 crore, while the valuation stands around Rs 1,065 crore at the lower end.

Sunshine Pictures is engaged in originating, creating, developing, producing, marketing and distributing films and web series.

Of the issue, 50 per cent is reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail investors.

The equity shares will be listed on both BSE and NSE on August 25. GYR Capital Advisors Private Ltd is the book-running lead manager to the issue, while Bigshare Services Private Ltd is the registrar.

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