Sunshine Pictures to float ₹282 crore IPO on Aug 18; price band set at ₹342-360
The IPO comprises a fresh issue of 48 lakh equity shares and an offer for sale (OFS) of 30.37 lakh equity shares, taking the total offer size to 78.37 lakh shares
Sunshine Pictures Ltd, a film and television production company, is planning to launch a ₹282 crore IPO on August 18. The issue, which will last for three days and conclude on August 20, includes an offer for sale of 30.37 lakh shares by promoters Vipul Amrutlal Shah and Shefali Vipul Shah. The company aims to raise up to ₹112.50 crore from the fresh issue to address its long-term working capital needs and allocate the rest to general corporate purposes.
Once listed, Sunshine Pictures hopes to boost its visibility, bolster its brand image and provide a public market for its equity shares in India. With the IPO's price band set at ₹342-360 per share, the company's valuation could reach up to ₹1,121 crore at its upper limit and around ₹1,065 crore at the lower end. Of the issue, 50% is reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.
The equity shares will be listed on both the BSE and NSE on August 25. GYR Capital Advisors Private Ltd is the book-running lead manager, while Bigshare Services Private Ltd serves as the registrar.
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