Sunshine Pictures IPO is currently the stronger listing-gain candidate of the two, based on the latest grey market premium (GMP), with an implied listing gain of around 21%. Shankesh Jewellers follows with a potential listing gain of 2%.
| IPO | GMP | Implied Listing Gain |
| Sunshine Pictures | Rs 75 | 20.83% |
| Shankesh Jewellers | Rs 2 | 2.15% |
The Shankesh Jewellers and Sunshine Pictures IPOs opened for subscription on Aug. 18 and will close on Aug. 20.
Both IPOs are scheduled to be listed on the BSE and NSE on Tuesday, Aug. 25.
Investors are closely tracking subscription levels and grey market premium (GMP) trends for clues on potential listing performance.
Here's a closer look at the latest GMP and key IPO details for these issues.
Sunshine Pictures IPO GMP Today
The company's latest IPO GMP stands at Rs 75 on Aug. 18 at 11:00 a.m. Adding the Rs 75 GMP to the upper price band of Rs 360 gives an implied listing price of Rs 435. This translates into an implied listing gain of 20.83% over the upper issue price.
Sunshine Pictures IPO Day 1 Subscription Status
The IPO has been subscribed 1.11 times as of 11:40 a.m. on the first day of bidding on Tuesday.
Sunshine Pictures IPO Details
Sunshine Pictures IPO is a book-build issue of Rs 282.14 crore. The issue comprises a fresh issue of Rs 172.80 crore and an OFS component of Rs 109.34 crore.
The share allotment process of the IPO will be finalised on Aug. 21. The issue price band has been set at Rs 342 to Rs 360 per share. The lot size for an application is 41 shares. The minimum amount of investment required by an individual investor (retail) is Rs 14,760 (based on upper price).
GYR Capital Advisors Ltd. is the book running lead manager and Bigshare Services Ltd. is the registrar of the issue.
Incorporated in 2007, Sunshine Pictures is a content production company engaged in developing, producing, marketing, and distributing commercial films, TV serials, and web series.
ALSO READ: Lalithaa Jewellery Mart IPO GMP In Focus As Subscription Enters Day 2 Today
Shankesh Jewellers IPO GMP Today
Shankesh Jewellers IPO's latest GMP stands at Rs 2 on Aug. 18 at 11:00 a.m. The issue comes with an upper price band of Rs 93. Adding the GMP of Rs 2 to the upper price band of Rs 93 gives an implied listing price of Rs 95. This translates into an implied listing gain of 2.15% over the upper issue price.
Shankesh Jewellers IPO Day 1 Subscription Status
The IPO has been subscribed 0.12 times as of 11:40 a.m. on the first day of bidding on Tuesday.
Shankesh Jewellers IPO Details
A book build issue of Rs 367.18 crore, this issue comprises a fresh issue worth Rs 274.18 crore and an offer-for-sale (OFS) of Rs 93 crore. It will close for subscription on Aug. 20, with share allotment process likely to be finalised on Aug. 21.
The issue price band is set at Rs 88-Rs 93 per share.
Each application lot consists of 160 shares, requiring retail investors to at least bid for shares worth Rs 14,880 (based on upper price). Aryaman Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Shankesh Jewellers, incorporated in 2005, is engaged in manufacturing and supplying customised handcrafted gold jewellery.
ALSO READ: Shankesh Jewellers IPO GMP In Focus As Issue Opens For Subscription Today
Sunshine Pictures vs Shankesh Jewellers IPO: Which Is Better?
Based on the latest GMP, Sunshine Pictures currently offers the higher implied listing gain at 20.83%, compared with 2.15% for Shankesh Jewellers. At the same time, GMP is unofficial and can change before listing, so investors should not use it as the sole basis for an IPO investment decision.
Note: GMP does not represent official data and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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