Sunshine Pictures Shares Jump 10% in Market Debut Trade

New Delhi: Shares of film and television producer-director Vipul Shah-promoted Sunshine Pictures Ltd on Tuesday listed with a premium of nearly 10 per cent against the issue price of Rs 360.

The stock started trading at Rs 394, registering a jump of 9.44 per cent on the BSE.

At the NSE, the stock listed at Rs 395.90, up 9.97 per cent.

The company’s market valuation stood at Rs 1,181.63 crore.

The initial public offering of Sunshine Pictures Ltd received 105.81 times subscription on the last day of bidding on Thursday, helped by a strong investor response.

The Rs 282-crore IPO had a price band of Rs 342-360 per share.

The mainboard issue had a fresh issuance 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.

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

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

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