The IPO of Sunshine Pictures was oversubscribed by 63.34 times on the final day, showing strong demand in all categories.
3 min read
The film production company's public offering received a strong response from both individual and institutional investors on the final day.
The Sunshine Pictures Limited IPO, which closed for subscription today, August 20, 2026, saw strong interest from investors, with subscriptions reaching 63.34 times by the end of the bidding period. The company offered shares at a price range of ₹342 to ₹360 each, with a minimum lot size of 41 shares. The IPO will be listed on the BSE and NSE.
The IPO received record subscriptions from all types of investors. The retail segment was subscribed 21.87 times, while the non-institutional investor (NII) category was subscribed 35.68 times. The qualified institutional buyer (QIB) portion, which was already secured, saw 0.14 times subscription. Among high-net-worth individuals (HNIs), those investing between ₹2 lakh and ₹10 lakh subscribed 48.91 times, while those investing over ₹10 lakh had a subscription rate of 29.07 times.
The IPO consists of a fresh issue of ₹172.80 crore (48,00,034 shares) and an offer for sale of ₹109.34 crore (30,37,157 shares), totaling ₹282.14 crore. The company has allocated 35% of the issue for retail investors, 15% for HNIs, 20% for QIBs, and 30% for anchor investors.
Grey Market Premium indicates positive potential for listing gains
The IPO is currently showing a grey market premium (GMP) of ₹78 per share, suggesting positive sentiment and potential listing gains of about 21.67% above the upper price of ₹360. This indicates that investors may see a listing price around ₹438 per share, depending on market conditions.
Brokerage firms have a favorable outlook on the Sunshine Pictures IPO, highlighting the company's successful history in film production and its growth into digital content. The company has produced popular films such as 'Force', 'Commando', and 'Holiday', and has a strong social media presence with 162,960 YouTube subscribers and over 90 million views.
Strong financial performance
Sunshine Pictures has demonstrated strong financial performance, with revenue of ₹76.27 crore and a profit after tax of ₹40.02 crore for FY26. The Return on Net Worth (RONW) is 27.58%, with an earnings per share (EPS) of ₹15.19. The company's total assets were valued at ₹179.63 crore as of March 2026.
Key details of Sunshine Pictures IPO
- Issue Opens: August 18, 2026
- Issue Closes: August 20, 2026
- Price Band: ₹342 - ₹360
- Lot Size: 41 Shares
- Minimum Investment: ₹14,022
- Maximum Investment: ₹14,760
- Issue Size: ₹282.14 Crore
- Fresh Issue: ₹172.80 Crore
- Offer for Sale: ₹109.34 Crore
- GMP: ₹78 (as of August 20)
- Allotment Date: August 21, 2026
- Listing Date: August 25, 2026
- Listing At: NSE, BSE
About the company
Founded in 2007, Sunshine Pictures Limited creates, develops, produces, markets, and distributes films, TV shows, and web series. The company uses technology to make content and specializes in commercial films, covering everything from script development to production, and rights monetization.
The company has released ten successful films (six in collaboration), two web series, two TV shows, and one short film. Sunshine Pictures has ongoing projects including two films with Jio Studios and a web series for Doordarshan. As of December 15, 2024, the company has 28 full-time employees.
Peer comparison and valuation
The company compares with:
- Sunshine Pictures Limited: P/E of 23.69x, CMP ₹360
- Panorama Studios International Limited: P/E of 81x, CMP ₹48.6
- Baweja Studios Limited: P/E of 8.68x, CMP ₹28.55
- Balaji Telefilms Limited: P/E of 0x (loss-making), CMP ₹84.04
Key strengths
- Experienced management with strong industry knowledge
- History of producing successful films
- Unique business model that includes both standalone and co-productions
- Strong social media engagement with 162,960 YouTube subscribers
Risks to consider
- Audience preferences for films and web series can be unpredictable
- Limited ownership of rights may affect future earnings
- Heavy reliance on box-office success
Allotment and listing schedule
The IPO allotment is expected to be finalized on August 21, 2026. Investors can check their allotment status on Bigshare Services Private Limited's website or the IPO Allotment Status page on IPO Trend.
Shares are anticipated to be listed on BSE and NSE on August 25, 2026, pending the final IPO schedule. Investors can monitor live subscription data and allotment status on IPO Trend.
Disclaimer: Investors should assess risks and market conditions before investing. The grey market premium is an unofficial measure and may fluctuate. Past performance does not guarantee future outcomes.
The IPO received record subscriptions from all types of investors. The retail segment was subscribed 21.87 times, while the non-institutional investor (NII) category was subscribed 35.68 times. The qualified institutional buyer (QIB) portion, which was already secured, saw 0.14 times subscription. Among high-net-worth individuals (HNIs), those investing between ₹2 lakh and ₹10 lakh subscribed 48.91 times, while those investing over ₹10 lakh had a subscription rate of 29.07 times.
The IPO consists of a fresh issue of ₹172.80 crore (48,00,034 shares) and an offer for sale of ₹109.34 crore (30,37,157 shares), totaling ₹282.14 crore. The company has allocated 35% of the issue for retail investors, 15% for HNIs, 20% for QIBs, and 30% for anchor investors.
Grey Market Premium indicates positive potential for listing gains
The IPO is currently showing a grey market premium (GMP) of ₹78 per share, suggesting positive sentiment and potential listing gains of about 21.67% above the upper price of ₹360. This indicates that investors may see a listing price around ₹438 per share, depending on market conditions.
Brokerage firms have a favorable outlook on the Sunshine Pictures IPO, highlighting the company's successful history in film production and its growth into digital content. The company has produced popular films such as 'Force', 'Commando', and 'Holiday', and has a strong social media presence with 162,960 YouTube subscribers and over 90 million views.
Strong financial performance
Sunshine Pictures has demonstrated strong financial performance, with revenue of ₹76.27 crore and a profit after tax of ₹40.02 crore for FY26. The Return on Net Worth (RONW) is 27.58%, with an earnings per share (EPS) of ₹15.19. The company's total assets were valued at ₹179.63 crore as of March 2026.
Key details of Sunshine Pictures IPO
- Issue Opens: August 18, 2026
- Issue Closes: August 20, 2026
- Price Band: ₹342 - ₹360
- Lot Size: 41 Shares
- Minimum Investment: ₹14,022
- Maximum Investment: ₹14,760
- Issue Size: ₹282.14 Crore
- Fresh Issue: ₹172.80 Crore
- Offer for Sale: ₹109.34 Crore
- GMP: ₹78 (as of August 20)
- Allotment Date: August 21, 2026
- Listing Date: August 25, 2026
- Listing At: NSE, BSE
About the company
Founded in 2007, Sunshine Pictures Limited creates, develops, produces, markets, and distributes films, TV shows, and web series. The company uses technology to make content and specializes in commercial films, covering everything from script development to production, and rights monetization.
The company has released ten successful films (six in collaboration), two web series, two TV shows, and one short film. Sunshine Pictures has ongoing projects including two films with Jio Studios and a web series for Doordarshan. As of December 15, 2024, the company has 28 full-time employees.
Peer comparison and valuation
The company compares with:
- Sunshine Pictures Limited: P/E of 23.69x, CMP ₹360
- Panorama Studios International Limited: P/E of 81x, CMP ₹48.6
- Baweja Studios Limited: P/E of 8.68x, CMP ₹28.55
- Balaji Telefilms Limited: P/E of 0x (loss-making), CMP ₹84.04
Key strengths
- Experienced management with strong industry knowledge
- History of producing successful films
- Unique business model that includes both standalone and co-productions
- Strong social media engagement with 162,960 YouTube subscribers
Risks to consider
- Audience preferences for films and web series can be unpredictable
- Limited ownership of rights may affect future earnings
- Heavy reliance on box-office success
Allotment and listing schedule
The IPO allotment is expected to be finalized on August 21, 2026. Investors can check their allotment status on Bigshare Services Private Limited's website or the IPO Allotment Status page on IPO Trend.
Shares are anticipated to be listed on BSE and NSE on August 25, 2026, pending the final IPO schedule. Investors can monitor live subscription data and allotment status on IPO Trend.
Disclaimer: Investors should assess risks and market conditions before investing. The grey market premium is an unofficial measure and may fluctuate. Past performance does not guarantee future outcomes.
Source Information
Originally published on major financial portals.
