Vipul Shah-Promoted Sunshine Pictures ₹282-Crore IPO Subscribed 105.81 Times; NII Portion Booked 197 Times
New Delhi, Aug 20: The initial public offering of film and television producer-director Vipul Shah-promoted Sunshine Pictures Ltd received 105.81 times subscription on the last day of bidding on Thursday, helped by a strong investor response. The Rs 282-crore IPO received bids for 58,04,90,382 shares against 54,86,051 shares on offer, as per details available with the NSE. The category for…
Vipul Shah promoted Sunshine Pictures received a record subscription of 105.81 times for its Rs 282-crore IPO. The retail portion was subscribed 197 times, while QIBs subscribed 123.52 times and non-institutional investors subscribed 56.60 times. Nine anchor investors raised Rs 84.64 crore in the IPO. The price band is fixed at Rs 342-360 per share with the mainboard issue comprising 48 lakh equity shares and an OFS of 30.37 lakh equity shares.
The company plans to use IPO proceeds for long-term working capital requirements and general corporate purposes. The IPO listing is expected to boost visibility and create a public market for its equity shares in India. Shares are set to be listed on both BSE and NSE on August 25.
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