Rupix

Sunshine Pictures IPO

Sunshine Pictures came to market through an IPO that opened on 18 August 2026 and closed on 20 August 2026, and the shares listed on 25 August 2026 on BSE, NSE. The price band was ₹342 to ₹360 per share and one lot was 41 shares, so the minimum application was ₹14,760. The issue size was ₹282.14 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.

It listed at ₹395.9, a gain of 10% against the issue price of ₹360. Bigshare Services Pvt Ltd was the registrar to the issue, and GYR Capital Advisors Pvt Ltd was the lead manager.

Issue details

Issue type
Book Built Issue
Price band
₹342 to ₹360
Lot size
41 shares
Minimum investment
₹14,760
Face value
₹10 per share
Issue size
₹282.14 crore
Fresh issue
48,00,034 shares (aggregating up to ₹172.8 crore)
Offer for sale
30,37,157 shares (aggregating up to ₹109.34 crore)
Listing at
BSE, NSE
Registrar
Bigshare Services Pvt Ltd
Lead managers
GYR Capital Advisors Pvt Ltd
Promoter holding before the issue
100%
Promoter holding after the issue
78.44%

Timeline

Opens
18 August 2026
Closes
20 August 2026
Allotment
21 August 2026
Listing
25 August 2026

Subscription status by day

As of 20 August 2026.

Day
1
2
3

Overall the issue was subscribed 105.81 times.

Listing day and after

Issue price
₹360
Listing price
₹395.9
Listing gain
10%
Listed on
25 August 2026

About Sunshine Pictures

Incorporated in 2007, Sunshine Pictures Limited is a film-making company that does the business of originating, developing, producing, creating, marketing, and distribution of films, TV serials, and web series.The company is a technology-oriented content generator with expertise in pioneering commercial films, from script development to production, creation of intellectual property, rights monetization, and distribution.

The company has been making good films such as 'Force', 'Commando', 'Holiday', 'Force 2', 'Commando 2', and 'The Kerala Story', earning a commercial success and tackling social significance.The company has made ten commercially successful films (six co-made), two web series, two TV serials, and one short film. It is in the process of co-making two movies with Jio Studios and one web series for Doordarshan. The company co-produces projects or single-produces them with established studios.

The company keeps a ratio of co-produced and standalone projects, matching risk and revenue possibilities, mostly for large-budget productions.The company is present on social media platforms such as YouTube, Instagram, and Facebook. It has 162,960 subscribers on YouTube, 9.18 crore views, and 104,500 followers on Instagram and Facebook, earning extra revenue in the form of content streaming. As of 15th December 2024, the company has a total workforce of 28 full-time staff.

As described in the offer document.

Objects of the issue

  • To meet the Working Capital Requirements
  • General Corporate Purposes

Strengths

  • Experienced promoters and senior management: The firm is backed by promoters who have experience in the film and entertainment sector and a management team which is conversant with the film and entertainment industry. The company's experience is helpful in terms of project development, production and implementation.
  • Strong track record in the industry: Sunshine Pictures has strong credentials in the industry for making commercially successful films and has built lasting relationships in the entertainment industry. It has some remarkable film and content projects in its portfolio.
  • Distinctive business model: The company has a flexible business model which combines standalone productions and co-productions with established studios. The model is helpful in balancing the project risks while pursuing business opportunities in the films, TV and digital content areas.

Risks

  • Audience acceptance is uncertain: The commercial success of the company's films, web series and television serials is heavily reliant on audience acceptance which is difficult to predict. Unfavorable response from the audiences may result into low revenues.
  • Limited rights to exploit: The company's success is dependent on the rights it holds and exploits in relation to its projects. Any constraints in such rights may prevent it from earning from its projects.
  • Box-office performance dependency: The company earns a considerable amount of its revenues through the box office performance of its movies in India. Poor box-office performance may have an impact on the revenues, financial position, and operating results of the company.

Financials (₹ crore)

Metric31-Mar-26(ST)31-Mar-2531-Mar-24

Listed peers

Sunshine Pictures
RoNW 27.58%%
Panorama Studios
RoNW 7.10%%
Baweja Studios
RoNW 5.52%%
Balaji Telefilms
RoNW -7.96%%

Anchor investors

Shares
23,51,140

Sunshine Pictures Limited finalised its anchor investor allocation on August 17, 2026, raising ₹84.64 crore from 9 institutional investors at an anchor price of ₹360 per share. The anchor book comprises 23,51,140 equity shares, with no participation from domestic mutual funds, life insurance companies, or pension funds, as explicitly disclosed in the company's intimation letter. The allocation was led by Uni Growth Fund at 23.63%, followed by Khandelwal Finance Pvt.

Ltd., The Asio Fund VCC – Sub Fund 4, and Shine Star Build Cap Pvt Ltd, each at 11.81%, and Zeal Global Opportunities Fund at 11.82%. LRSD Securities Pvt Ltd received 11.39%, while Innovative Vision Fund, Arnesta Global Opportunities Fund PCC, and Visionary Value Fund each received 5.91% of the anchor portion.

Promoters

Vipul Amrutlal Shah, Shefali Vipul Shah, Aryaman Vipul Shah, Maurya Vipul Shah. Promoter holding 100% before the issue and 78.44% after.

Application sizes

Retail (min)
1 lot, 41 shares, ₹14,760
Retail(max)
13 lots, 533 shares, ₹1,91,880
sHNI(min)
14 lots, 574 shares, ₹2,06,640
sHNI(max)
67 lots, 2747 shares, ₹9,88,920
bHNI(min)
68 lots, 2788 shares, ₹10,03,680

Valuation

EPS Pre IPO
₹13.08
EPS Post IPO
₹11.06
P/E Pre IPO
27.52
P/E Post IPO
32.55
ROE
31.99%
ROCE
36.20%
RoNW
27.58%
PAT Margin
53.77%
Debt/Equity
0.06
Price/Book
6.54
Market Cap
₹1,121.36 Cr

Registrar and allotment status

Registrar
Bigshare Services Pvt Ltd
Allotment status
https://ipo.bigshareonline.com/ipo_status.html
Phone
+91-22-6263 8200
Email
ipo@bigshareonline.com

Work out the listing gain for this IPO

How allotment works

If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.

The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.

Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.

What happens on listing day

Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.

For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.

Questions about the Sunshine Pictures IPO

What is Sunshine Pictures IPO?

Sunshine Pictures IPO was a ₹282.14 crore book-built issue, comprising a fresh issue of ₹172.8 crore and an offer for sale of ₹109.34 crore. It was priced at ₹342–₹360 per share with a lot size of 41 shares (₹14,760). The IPO was open from August 18 to August 20, 2026 and was subscribed 105.81x. Shares listed on BSE and NSE on August 25, 2026 at ₹395.90, a 10.0% premium to the issue price of ₹360.

Bigshare Services Pvt Ltd is the registrar. GYR Capital Advisors Pvt Ltd is the book running lead manager.

What is the price band of Sunshine Pictures IPO?

The price band of Sunshine Pictures IPO is ₹342 to ₹360 per share.

What is the lot size of Sunshine Pictures IPO?

The lot size of Sunshine Pictures IPO is 41 shares.

What is the minimum investment for Sunshine Pictures IPO?

The minimum investment for Sunshine Pictures IPO is approximately ₹14,760 based on the upper price band.

What is the allotment date of Sunshine Pictures IPO?

The allotment date of Sunshine Pictures IPO is Aug 21, 2026.

What was the GMP of Sunshine Pictures IPO before listing?

Sunshine Pictures IPO's final recorded GMP before listing was ₹50 per share (a 14% premium over the ₹360 upper price band). The shares listed at ₹395.9. GMP is unofficial and does not forecast or guarantee the actual listing price.

How has Sunshine Pictures IPO share price performed since listing?

Sunshine Pictures IPO listed on Aug 25, 2026. It was issued at ₹395.9(NSE) and is currently around ₹383.00 as on 30-Oct-2026 3:30 PM, which is approximately 6.4% versus issue price. The 52-week high is ₹524.95.

How to check Sunshine Pictures IPO allotment status?

You can check Sunshine Pictures IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Sunshine Pictures IPO allotment status on Rupix for quick and easy access.

What was the price band of the Sunshine Pictures IPO?

₹342 to ₹360 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.

What was the lot size of the Sunshine Pictures IPO?

One lot was 41 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,760.

What was the minimum investment in the Sunshine Pictures IPO?

₹14,760, for one lot of 41 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.

When did the Sunshine Pictures IPO open and close?

It opened on 18 August 2026 and closed on 20 August 2026.

When was the allotment of the Sunshine Pictures IPO?

The basis of allotment was published on 21 August 2026 by Bigshare Services Pvt Ltd, and allotted shares were credited to demat accounts before listing.

When did Sunshine Pictures list on BSE, NSE?

The shares listed on 25 August 2026 on BSE, NSE, opening at ₹395.9.

How large was the Sunshine Pictures IPO?

The issue size was ₹282.14 crore. The fresh issue was 48,00,034 shares (aggregating up to ₹172.8 crore). The offer for sale was 30,37,157 shares (aggregating up to ₹109.34 crore).

How did the Sunshine Pictures IPO perform on listing?

It listed at ₹395.9 against an issue price of ₹360, a gain of 10 percent on listing day.