Sunshine Pictures launches IPO today at ₹342-360
As much as 50% of the net issue is reserved for qualified institutional buyers (QIBs), while 15% is reserved for non-institutional investors (NIIs). Retail investors have been offered 35% of the net issue
Sunshine Pictures has launched its IPO today with a price band of ₹342-360. The public issue amounts to ₹282 crore, comprising a fresh issue of ₹172.80 crore and an offer-for-sale of ₹109.34 crore. Investors can bid in multiples of 41 shares, with 50% of the net issue reserved for qualified institutional buyers (QIBs) and 15% for non-institutional investors (NIIs).
Retail investors are offered 35% of the net issue. The company plans to use the proceeds to fund working capital requirements and general corporate purposes. Promoter and Managing Director Vipul Amrutlal Shah has already raised ₹84.64 crore from nine anchor investors. The IPO is being managed by GYR Capital Advisors Private Limited and the shares will be registered by Bigshare Services Private Limited.
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