Price Band fixed at ₹342 to ₹360 per equity share of face value of ₹10 each
The Floor Price is 34.20 times the face value of Equity Shares and the Cap Price is 36.00 times the face value of the Equity Shares;
Bid /Offer will open on Tuesday, 18 August 2026 and close on Thursday, 20 August 2026. The Anchor Investor Bidding Date is Monday, 17 August 2026;
Bids can be made for a minimum of 41 Equity Shares and in multiples of 41 Equity Shares thereafter;
Red Herring Prospectus dated August 10, 2026 link: RHP
Price band advertisement link: Offer Documents – GYRCAPITALADVISORS
Mumbai,August 11, 2026( TGN ) : Sunshine Pictures Limited proposes to open an initial public offering (IPO) of its equity shares of face value of ₹10 each on Tuesday, 18 August 2026. The Anchor Investor Bidding Date is Monday, August 17, 2026. The Bid/ Offer Closing Date is Thursday, August 20, 2026.
The Price Band of the Offer has been fixed from ₹342 per Equity Share to ₹360 per Equity Share. Bids can be made for a minimum of 41 Equity Shares and multiples of 41 Equity Shares thereafter.
The Offer comprises of a Fresh Issue of up to 48,00,034 Equity Shares of face value of ₹10 each aggregating up to ₹172.80 crore and an Offer for sale of up to 30,37,157 Equity Shares aggregating up to ₹ 109.33 crore. Within the Vipul Amrutlal Shah is offering up to 20,31,388 Equity Shares of face value of ₹ 10 each aggregating up to ₹ 73.13 crore and Shefali Vipul Shah is offering up to 10,05,769 Equity Shares of face value of ₹ 10 each aggregating up to ₹ 36.21 crore.
The proceeds of the fresh issue of upto ₹ 112.5 crore will be utilized for funding the working capital requirements and the balance for General Corporate Purpose.
Sunshine Pictures is a production-house engaged in the business of originating, creating, developing, producing, marketing and distribution of films, TV serials and web series. The company started with debut production ‘Force’ and was a box office hit. Since then, it has produced and distributed prominent, commercial and socially relevant films such as ‘Commando: A One-Man Army’, ‘Holiday: A soldier is never off duty’, ‘Force 2’, ‘Commando 2: The black money trail’, ‘The Kerala Story’, etc. ‘The Kerala Story’ emerged as the highest return-on-investment blockbuster in 2023, reflecting the company’s ability to balance commercial appeal with critical acclaim (Source: D&B Report). As on date of the Red Herring Prospectus, Sunshine Pictures have produced; (i) thirteen (13) commercial films out of which seven (7) were co-produced with reputable studios and six (6) were self-produced; (ii) two (2) web series; (iii) three (3) TV serials; and (iv) one (1) short commercial film
The company has recently launched two verticals, namely Sunshine Music and Sunshine Digital (Originals). Presently, on YouTube channel they have thirty-six (36) original music videos and a maiden digital web series “Bawra Mann” as well as “Ankahee”. Additionally, Sunshine Pictures also has six (6) films and two (2) web series in the pipeline for production.
Sunshine Pictures stands out among its peers with a significantly stronger profitability profile. For the period FY 2026, Sunshine Pictures reported, ₹ 58.54 crore EBITDA and ₹ 40.02 crore PAT on standalone revenue of ₹ 74.43 crore in FY26, translating into a strong 78.65% EBITDA margin and 53.77% PAT margin.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited and National Stock Exchange of India Limited. For the purposes of the Offer, the Designated Stock Exchange shall be National Stock Exchange of India Limited.
The Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made for at least 25% of the post-Offer paid-up Equity Share capital of the Company. The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations wherein in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”).
Further, 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, subject to valid Bids being received at or above the Offer Price, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares each available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.
Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders (“NIBs”) out of which (a) one third of such portion shall be reserved for applicants with application size of more than ₹ 2.00 lakhs and up to ₹ 10.00 lakhs and (b) two-third of such portion shall be reserved for applicants with application size of more than ₹ 10.00 lakhs, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of NIBs and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations subject to valid Bids being received at or above the Offer Price.
All Potential Bidders, are required to participate in the Offer by mandatorily utilising the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Account (as defined hereinafter) and UPI ID in case of UPI Bidders using the UPI Mechanism, as applicable, pursuant to which their corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Banks under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts.
GYR Capital Advisors Private Limited is the Book Running Lead Manager’s to the issue.
