Global Markets
Home›Global Markets›Emerging Markets›Sunshine Pictures IPO opens Aug 18 with ₹342 to ₹360 p…
Sunshine Pictures IPO opens Aug 18 with ₹342 to ₹360 price band
The issue targets up to ₹282.1 crore in gross proceeds, combining a fresh share sale and an offer for sale, with a potential 15% grey market premium implied by the latest GMP.
Sunshine Pictures is set to open for public subscription on Tuesday, 18 August, with its IPO price band fixed at ₹342 to ₹360 per share, according to LiveMint Markets. The book build will run through Thursday, 20 August, and the company plans to list on the BSE and the NSE on Tuesday, 25 August.
Grey market indications point to investor optimism, with the latest grey market premium (GMP) reported at ₹54 as of Monday morning. Using that GMP, LiveMint Markets said the stock could list at around ₹414, implying a 15% premium over the issue price.
The IPO comprises a fresh issuance of 48,00,034 shares to raise ₹172.80 crore, plus an offer for sale (OFS) of 30,37,157 shares aggregating to ₹109.34 crore, the outlet reported. Allocation-wise, up to 50% of the net issue is reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.
LiveMint Markets also said the IPO lot size is 41 shares, with a minimum retail investment of ₹14,760 based on the upper price band. Allotment is expected to be finalized on Friday, 21 August, with shares credited on Monday, 24 August, refunds issued the same day for unsuccessful bidders. The company plans to use net proceeds to fund working capital needs and general corporate purposes.