Summary of this article
Sunshine Pictures shares listed at nearly 10 per cent premium on exchanges
IPO was subscribed 105.81 times across investor categories
Company will use Rs 112.50 crore fresh issue proceeds for working capital
Shares of Sunshine Pictures made a strong debut on the stock exchanges on August 25, listing nearly 10 per cent above the issue price. The stock’s grey market premium ahead of listing had indicated a gain of around 14 per cent. However, the actual debut was slightly below those expectations.
The stock opened at Rs 395.90 on the NSE, up Rs 35.90, or 9.97 per cent, from the issue price of Rs 360. On the BSE, the shares listed at Rs 394, a gain of Rs 34, or 9.44 per cent.
Following the listing, Sunshine Pictures’ market capitalisation rose to around Rs 1,227.26 crore from Rs 1,121.36 crore at the issue price.
The Sunshine Pictures' initial public offering (IPO) was open for subscription from August 18 to August 20 and saw strong demand across investor categories. The issue was subscribed 105.81 times overall, with the non-institutional investors’ (NII) portion subscribed 197.04 times, qualified institutional buyers’ (QIB) portion 123.52 times and retail investors’ portion 56.60 times.
The company had fixed the price band at Rs 342-360 per share. Its Rs 282.14 crore IPO comprised a fresh issue of 48 lakh shares worth Rs 172.80 crore and an offer for sale of 30.37 lakh shares worth Rs 109.34 crore.
The company plans to use Rs 112.50 crore from the fresh issue to fund its working capital needs, while the rest it plans to use for general corporate purposes.
Sunshine Pictures is engaged in the production, marketing and distribution of films, television serials and web series. The company has produced films including Force, Commando, Holiday, Force 2, Commando 2 and The Kerala Story.
Sunshine Pictures IPO Anchor List
Sunshine Pictures raised Rs 84.64 crore from nine anchor investors ahead of its IPO at Rs 360 per share. The company allotted 2.35 million shares to anchor investors.
Uni Growth Fund received the largest allocation of 5,55,550 shares, or 23.63 per cent of the anchor portion. Khandelwal Finance, Zeal Global Opportunities Fund, The Asio Fund VCC–Sub Fund and Shine Star Build Cap were each allotted 2,77,778 shares. No shares were allotted to domestic mutual funds, life insurance companies or pension funds.
Sunshine Pictures Financials
Sunshine Pictures reported a revenue of Rs 76.27 crore in FY26, down from Rs 105.80 crore in FY25 and Rs 139.46 crore in FY24.
Profit after tax (PAT) rose to Rs 40.02 crore in FY26 from Rs 34.46 crore in FY25, but was still well below Rs 53.35 crore in FY24. Earnings before interest, taxes, depreciation and amortisation (Ebitda) rose to Rs 58.55 crore in FY26 from Rs 50.76 crore in FY25, but falling short of Rs 73.97 crore in FY24.
The balance sheet, however, has improved. Net worth increased to Rs 145.13 crore in FY26 from Rs 105.07 crore in FY25 and Rs 70.60 crore in FY24. Reserves and surplus also rose to Rs 118.79 crore from Rs 78.72 crore and Rs 70.47 crore, respectively.
The film producer's debt declined to Rs 9.09 crore in FY26 from Rs 11.16 crore in FY25 and Rs 16.67 crore in FY24. Assets more than doubled over the two-year period, rising to Rs 179.64 crore in FY26 from Rs 97.38 crore in FY24.
