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Sunshine Pictures IPO opens Aug. 18, grey market signals about 20.8% pop
The issue, priced at the top of the ₹342-₹360 band by anchor investors, is slated to list on Aug. 25, after raising ₹84.64 crore from nine anchors.
Sunshine Pictures IPO opened for subscriptions on Aug. 18 and will close on Aug. 20, with a price band of ₹342 to ₹360 per share. The film and television producer-director Vipul Shah promoted company raised ₹84.64 crore from nine anchor investors before the issue opened, allotting more than 23.51 lakh equity shares at ₹360 each, according to a BSE circular.
Of the offer, 50% is reserved for Qualified Institutional Buyers, 15% for Non-Institutional Investors, and 35% for retail investors. Shares are proposed to list on both the BSE and NSE on Aug. 25.
In the grey market, LiveMint Markets cited a day level GMP of +75, implying an estimated listing price of ₹435 per share. That estimate indicates a premium of 20.8% versus the ₹360 upper end of the IPO price band.
Swastika Investmart, as cited by LiveMint Markets, said Sunshine Pictures’ EBITDA margin rose by 2,953 basis points to 78.65% in FY26 even as revenue declined 27.96%, attributing the jump largely to capitalisation of production costs for unreleased projects. The brokerage also flagged deterioration in cash generation, with cash flow from operations falling to negative ₹332.06 crore, while noting low leverage and a RoCE of more than 35% in assessing valuation support.