Film production company Sunshine Pictures has announced the price band of its initial public offering (IPO), which is set to open for public subscription on Tuesday, August 18, 2026.
The company has set the price band at ₹342 to ₹360 and the lot size at 41 shares for its maiden share sale, through which the company seeks to raise ₹282.14 crore.
The public offering of Sunshine Pictures comprises a fresh issue of 4.8 million equity shares aggregating to ₹172.80 crore, and an offer for sale (OFS) by promoters Vipul Amrutlal Shah and Shefali Vipul Shah, who are divesting up to 3 million equity shares worth nearly ₹109.34 crore.
Investors can bid for a minimum of 41 shares and in multiples thereof. At the upper price band, a retail investor will need a minimum investment of ₹14,760 for one lot of 41 shares. The maximum bid for a retail investor is 13 lots, or 533 shares, requiring an investment of ₹1,91,880.
The public issue will remain open for subscription until Thursday, August 20. The basis of allotment is scheduled to be finalised on Friday, August 21.
Successful investors can expect the shares to be credited to their demat accounts by Monday, August 24, 2026.
Shares of Sunshine Pictures are slated to make their D-Street debut tentatively on Tuesday, August 25, 2026.
Bigshare Services is the registrar to the issue, while GYR Capital Advisors is the sole book-running lead manager.
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Sunshine Pictures said it will not receive any proceeds from the OFS, with the proceeds going to the selling shareholders.
"The proceeds of the Offer for Sale shall be received by the Selling Shareholders. Our Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will be entitled to the Offer Proceeds, to the extent of the Equity Shares offered by each of them in the Offer, net of their respective share of the Offer-related expenses and relevant taxes thereon," the company said in its red herring prospectus.
The company proposes to use the proceeds from the fresh issue to meet its working capital requirements and for general corporate purposes.
Incorporated in 2007, Sunshine Pictures is a production house engaged in originating, creating, developing, producing, marketing and distributing films, TV serials and web series (“Projects”).
Since its incorporation, the company has produced various works in modern Indian cinema. Its debut production, ‘Force’, was a box-office hit.
The company has since produced and distributed prominent commercial and socially relevant films, including ‘Commando: A One-Man Army’, ‘Holiday: A Soldier Is Never Off Duty’, ‘Force 2’, ‘Commando 2: The Black Money Trail’ and ‘The Kerala Story’, among others.
Sunshine Pictures' consolidated profit after tax (PAT) stood at ₹34.46 crore in FY25, compared with ₹53.34 crore in FY24, according to the RHP.
Revenue from operations stood at ₹103.33 crore in FY25, against ₹133.79 crore in FY24.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at ₹48.27 crore in FY25, compared with ₹68.31 crore in FY24.
The EBITDA margin stood at 46.72% in FY25, compared with 51.06% in FY24.
