Sunshine Pictures IPO opens August 18; check price band, issue size & other details

Sunshine Pictures will launch its initial public offering for subscription on Tuesday, August 18, and close it on Thursday, August 20. The bidding for anchor investors is scheduled a day earlier, on Monday, August 17. The public issue is valued at Rs 282 crore and includes a fresh issue of up to 48,00,034 equity shares and an offer for sale of up to 30,37,157 equity shares.

The company has fixed the price band at Rs 342 to Rs 360 per equity share, with a face value of Rs 10 per share. Following the issue, Sunshine Pictures' implied market capitalisation is estimated to be between Rs 1,065 crore and Rs 1,121 crore.

Investors can bid for a minimum of 41 shares, and bids thereafter will be accepted in multiples of 41 shares. At the lower end of the price band, the minimum investment for a retail investor will be Rs 14,022, while at the upper end it will be Rs 14,760.

Of the total offer, 50% has been reserved for Qualified Institutional Buyers, 15% for Non-Institutional Investors, and the remaining 35% for retail investors. The basis of allotment is expected to be finalised on August 21, while the shares are expected to be listed on the BSE and NSE on August 25.

GYR Capital Advisors is the book running lead manager for the issue, while Bigshare Services has been appointed registrar to the issue.

Sunshine Pictures Limited, incorporated in 2007, is a film and content production company engaged in the conceptualisation, creation, development, production, marketing and distribution of films, television serials and web series. The company describes itself as a technology-led content creator focused on commercially viable and innovative projects, with operations spanning script development, content production, intellectual property creation, monetisation of rights and distribution.

Its portfolio includes films such as Force, Commando, Holiday, Force 2, Commando 2 and The Kerala Story. To date, the company has produced 10 commercial films, including six co-productions, along with two web series, two television serials and one short film. It is currently co-producing two films with Jio Studios and is also producing a web series for Doordarshan.

The IPO will run from August 18 to August 20, with anchor bidding on August 17, and the company has set aside categories for institutional, non-institutional and retail investors. Sunshine Pictures is seeking to raise funds through a mix of fresh issue and offer for sale as it brings its film and content production business to the public markets.