Sunshine Pictures IPO
Sunshine Pictures Limited is a Mumbai-based media and entertainment company with 18+ years of experience originating, producing, marketing and distributing commercial films, TV serials, web series and music, behind titles including The Kerala Story, Force and Commando.
Issue Size
Price Band
IPO Dates
Listing Date
IPO Snapshot
| Particular | Details |
|---|---|
| IPO Name | Sunshine Pictures IPO |
| Company Name | Sunshine Pictures Limited |
| Issue Type | Book Built Issue |
| Exchange | BSE, NSE |
| Face Value | ₹10 per share |
| Price Band | ₹342 to ₹360 |
| Lot Size | 41 Shares |
| Minimum Investment | ₹14,760 (Retail, upper band) |
| Fresh Issue | ~48,00,000 shares (~₹172.80 Cr) |
| Offer for Sale | ~30,37,191 shares (~₹109.34 Cr) |
| Total Issue Size | 78,37,191 shares (~₹282.14 Cr) |
| IPO Opens | 18 Aug 2026 |
| IPO Closes | 20 Aug 2026 |
| Listing | BSE & NSE |
| Registrar | Bigshare Services Pvt. Ltd. |
IPO Lot Size
Investors can bid for a minimum of 41 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 41 | ₹14,760 |
| Retail (Max) | 13 | 533 | ₹1,91,880 |
| S-HNI (Min) | 14 | 574 | ₹2,06,640 |
| S-HNI (Max) | 67 | 2,747 | ₹9,88,920 |
| B-HNI (Min) | 68 | 2,788 | ₹10,03,680 |
About the Company
Sunshine Pictures Limited, originally incorporated in 2007 as Energetic Films Private Limited and converted to a public limited company in 2024, is a content production house engaged in originating, developing, producing, marketing and distributing feature films, television serials and web series.
The company has produced 13 commercial films including The Kerala Story, Holiday: A Soldier Is Never Off Duty, Force, Force 2 and Commando: A One-Man Army, and has expanded into Sunshine Music and Sunshine Digital (Originals), with 36 original music videos and multiple digital productions.
For FY26, the company reported revenue of ₹74.44 crore and profit after tax of ₹40.02 crore, with an EBITDA margin of around 78.65% and a debt-equity ratio of 0.06.
Company Strengths
- Established track record with 18+ years in the Indian film and entertainment industry.
- Portfolio of commercially successful films including The Kerala Story and the Force/Commando franchises.
- Experienced promoters (Vipul Amrutlal Shah and family) supported by a senior management team.
- Differentiated, dual production strategy spanning films, TV, web series and music.
- Strong FY26 profitability with high EBITDA margins and low leverage.
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the company | 112.5 |
| 2 | General corporate purposes | |
| Total | 112.50 |
Financial Performance
| Particular | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | - | - | 74.44 |
| Profit After Tax | - | 34.50 | 40.02 |
| EBITDA Margin | - | - | 78.65% |
| Debt/Equity | - | - | 0.06 |
GMP Today
Important Dates
| Event | Date |
|---|---|
| Anchor Bidding | 17 Aug 2026 |
| IPO Opens | 18 Aug 2026 |
| IPO Closes | 20 Aug 2026 |
| Basis of Allotment | 21 Aug 2026 (Tentative) |
| Refund/Credit of Shares | 24 Aug 2026 (Tentative) |
| Listing Date | 25 Aug 2026 (Tentative) |
IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | 50.00% of the Offer |
| Non-Institutional Investors (NII) | 15.00% of the Offer |
| Retail Individual Investors | 35.00% of the Offer |
Promoter Holding
Pre-Issue Promoter Holding: 99.99%
Post-Issue Promoter Holding: To be updated from final offer document
Key promoters include Vipul Amrutlal Shah, Shefali Vipul Shah, Aryaman Vipul Shah and Maurya Vipul Shah.
Lead Managers
- GYR Capital Advisors Pvt. Ltd.
Registrar and IPO Status
Key Risk Factors
- Success is highly dependent on the unpredictable acceptance of content by audiences.
- Revenue is project-based and can be lumpy across film releases and content cycles.
- The company faces material litigation including criminal complaints, civil challenges to film certifications, and direct tax proceedings.
- Customer/platform concentration for content distribution and licensing revenue.
- Entertainment industry is subject to changing consumer preferences and competitive OTT/theatrical dynamics.
- IPO investing carries market and listing risk; read the final offer document carefully before investing.
Frequently Asked Questions
What is the Sunshine Pictures IPO date?
The IPO opens on 18 Aug 2026 and closes on 20 Aug 2026.What is the price band of Sunshine Pictures IPO?
The price band is set at ₹342 to ₹360 per share.What is the lot size of Sunshine Pictures IPO?
The lot size is 41 shares, with a minimum retail investment of ₹14,760 at the upper price band.Where will Sunshine Pictures IPO list?
The equity shares are proposed to be listed on BSE and NSE.Who is the registrar of Sunshine Pictures IPO?
Bigshare Services Pvt. Ltd. is the registrar to the issue.What is the total issue size of Sunshine Pictures IPO?
The total issue size is approximately ₹282.14 Crore, comprising a fresh issue of ~₹172.80 Cr and an offer for sale of ~₹109.34 Cr.Disclaimer
IPO dates, price band, lot size, issue size and other details may change before the final offer document is issued.
Grey Market Premium (GMP), when available, is unofficial and can change anytime. It is not an assurance of listing gains.