Shares of Sunshine Pictures are poised for a strong debut on the NSE and BSE on August 25, following a stellar response to its initial public offering (IPO) which saw bids exceeding 100 times the shares on offer.
Sunshine Pictures IPO Expected Listing Price
The grey market premium (GMP) for Sunshine Pictures stood at Rs 65 as of August 24. Based on the upper price band of Rs 360 per share, this indicates a potential listing price of Rs 425, suggesting a premium of 18.06% for investors.
However, it is important to note that GMP is an unofficial indicator and does not guarantee the final listing price.
Sunshine Pictures IPO Final Subscription Status
The public issue was oversubscribed a remarkable 105.81 times during its bidding period from August 18 to August 20. The demand was strong across all investor categories:
- Qualified Institutional Buyers (QIB): 123.52 times
- Non-Institutional Investors (NII): 197.04 times
- Retail Investors: 56.60 times
The allotment of shares for the IPO was finalised on Aug. 21.
Sunshine Pictures IPO Listing Date
Shares of Sunshine Pictures IPO will list on NSE and BSE with a tentative listing date fixed as Aug. 25.
Sunshine Pictures IPO Details
- Issue Size: The book-build issue was worth Rs 282.14 crore, consisting of a fresh issue of 48 lakh equity shares (Rs 172.80 crore) and an Offer for Sale (OFS) of 30 lakh shares (Rs 109.34 crore).
- Price Band: The price for the issue was set at Rs 342 to Rs 360 per share.
- Lot Size: The minimum application size was 41 shares, requiring an investment of Rs 14,760 at the upper price band.
- Issue Managers: GYR Capital Advisors Pvt. Ltd. served as the book running lead manager, with Bigshare Services Pvt. Ltd. acting as the registrar.
Sunshine Pictures IPO: Use Of Proceeds
Sunshine Pictures plans to utilise the net proceeds of Rs 172.80 crore from the fresh issue to fund the company's working capital requirements (Rs 112.50 crore) and for general corporate purposes.
About Sunshine Pictures Ltd.
Founded in 2007, Sunshine Pictures is a technology-driven production house involved in creating, producing, and distributing films, TV series, and web content. The company has produced several notable commercial films, including ‘Force', ‘Commando', ‘Holiday', and the recent blockbuster ‘The Kerala Story'.
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
