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Sunshine Pictures IPO
Price Band
₹342.0–360.0
Issue Size
₹282.14 Cr
Lot Size
41 shares
Min Investment
₹14,760
GMP
+₹50.0 (13.89%)
Issue Price
₹360.0
Subject to Sauda
₹1600
Paid only if allotted
Sunshine Pictures IPO AI Summary
- Sunshine Pictures IPO is listed on BSE, NSE in the Film Production, Distribution & Exhibition sector.
- Price band: ₹342.0–₹360.0 per share, lot size 41 shares (min. investment ₹14,760).
- Subscription window: 18 Aug–20 Aug 2026, listing on 25 Aug 2026.
- Current GMP is +₹50.0 (13.89%), an estimated listing price of ₹410 — unofficial and can change daily.
Sunshine Pictures Limited is set to enter the public market with a strong focus on film production and distribution. With a solid track record and innovative approach, the IPO has garnered significant interest, as reflected in the subscription data. Investors should consider the potential risks and rewards before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Sunshine Pictures IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 20 Aug 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
105.81x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
123.52x
|
124x 🔥 |
| NII (HNI) |
197.04x
|
197x 🔥 |
| ↳ bNII (>₹10L) |
198.42x
|
198x 🔥 |
| ↳ sNII (<₹10L) |
194.27x
|
194x 🔥 |
| Retail (RII) |
56.60x
|
57x ✓ |
| Total | 105.81x | 105.81x |
Auto-updated every 5 min · As of 20th Aug 2026 18:56
Sunshine Pictures IPO Grey Market Premium (GMP) Today
GMP
+₹50.0
GMP %
+13.89%
Est. Listing
₹410.0
Updated: 25 Aug 2026 06:30
GMP Trend (Last 14 Days)
About the Company
Incorporated in 2007, Sunshine Pictures Limited is a production company engaged in the business of originating, creating, developing, producing, marketing, and distributing films, TV serials, and web series. The company is a technology-driven content creator specializing in innovative commercial films, covering script development, production, intellectual property creation, rights monetization, and distribution. The company has produced notable films like ‘Force’, ‘Commando’, ‘Holiday’, ‘Force 2’, ‘Commando 2’, and ‘The Kerala Story’, achieving commercial success and addressing social relevance. The company has produced ten commercial films (six co-produced), two web series, two TV serials, and one short film. It is currently co-producing two films with Jio Studios and producing one web series for Doordarshan. The company produces projects either as a sole producer or co-producer with reputable studios. It maintains a mix of co-produced and standalone projects, balancing risk and revenue potential, particularly for high-budget productions. The company is active on social media platforms like YouTube, Instagram, and Facebook. It has 162,960 YouTube subscribers, 9.18 crore views, and 104,500 followers across Instagram and Facebook, generating additional revenue from content streaming. As of December 15, 2024, the company has a total strength of 28 full-time employees. Competitive Strengths: Experienced Promoters supported by Senior Management team Established Track Record and long-standing relationships in the industry Differentiated and Robust Business Model High quality standards
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 179.64 | 131.28 | 97.38 |
| Total Income | 76.27 | 105.80 | 139.46 |
| Profit After Tax | 40.02 | 34.46 | 53.35 |
| EBITDA | 58.55 | 50.76 | 73.97 |
| NET Worth | 145.13 | 105.07 | 70.60 |
| Reserves and Surplus | 118.79 | 78.72 | 70.47 |
| Total Borrowing | 9.09 | 11.16 | 16.67 |
Key Ratios
EPS
₹15.19
NAV
₹39.88
ROE
39.24%
ROCE
41.23%
RoNW
32.80%
P/B Value
9.03
P/E Ratio
23.7
Market Cap
₹1121.36 Cr
PAT Margin
33.35%
Debt/Equity
0.11
Peer Comparison
| Company | NAV | RoNW | EPS Basic | EPS Diluted | P/E (x) |
|---|---|---|---|---|---|
| Balaji Telefilms | 51.22 | -7.96% | -4.09 | -4.09 | — |
| Baweja Studios | 59.73 | 5.52% | 3.29 | 3.29 | 8.68 |
| Panorama Studios International | 8.47 | 7.1% | 0.6 | 0.6 | 81 |
| Sunshine Pictures This IPO | 55.08 | 27.58% | 15.19 | 15.19 | — |
Promoters
Vipul Amrutlal Shah, Shefali Vipul Shah, Aryaman Vipul Shah, Maurya Vipul Shah
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding the working capital requirements of the Company 112.50 2 General Corporate Purposes Total 112.50
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹139.46 Cr in the year ending 31 Mar 2024, but declined to ₹105.80 Cr by 31 Mar 2025, before dropping further to ₹76.27 Cr by 31 Mar 2026. This shows a downward trend in revenue over the three periods.
Profit Trend
Profit After Tax (PAT) was ₹53.35 Cr for the year ending 31 Mar 2024, decreasing to ₹34.46 Cr by 31 Mar 2025, and then rising to ₹40.02 Cr by 31 Mar 2026. This indicates a fluctuation in profitability across the periods.
Valuation
Sunshine Pictures has an EPS of ₹15.19, which implies a P/E ratio of 23.7 at the issue price. In comparison, peers like Baweja Studios have a P/E of 8.68, while Panorama Studios International's P/E is significantly higher at 81.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the price at which an IPO is expected to list in the stock market, compared to its issue price. A positive GMP suggests that the IPO may list at a higher price, while a negative GMP indicates potential listing below the issue price.
Subscription Demand
As of 20th Aug 2026, the IPO was subscribed 105.81 times overall. The QIB category saw a subscription of 123.52 times, while the NII category was subscribed 197.04 times. Retail investors subscribed 56.6 times, indicating strong demand across all categories.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions and the company's fundamentals.
Who May Want to Wait
Investors with a low-risk appetite or those who prefer stable income may want to avoid IPOs in sectors like film production, which can be subject to high volatility and uncertainty.
IPO Timeline, Explained
The IPO opens for subscription on 18th August 2026 and closes on 20th August 2026. Allotment of shares will be done on 21st August 2026, with the listing expected on 25th August 2026.
Listing Gains — The Risk
Listing gains are not guaranteed and can vary significantly based on market conditions and investor sentiment. It's important for investors to consider the potential for both gains and losses on listing day.
This evaluation is generated from Sunshine Pictures's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Sunshine Pictures IPO GMP today?
Sunshine Pictures IPO GMP today is +₹50.0 (13.89%), indicating an estimated listing price of ₹410. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Sunshine Pictures IPO?
The price band of Sunshine Pictures IPO is ₹342.0–₹360.0 per share.
When does Sunshine Pictures IPO open and close?
Sunshine Pictures IPO opens on 18 August 2026 and closes on 20 August 2026.
When does Sunshine Pictures IPO list on the stock exchange?
Sunshine Pictures IPO listed on 25 August 2026 at ₹410.0.
What is the lot size for Sunshine Pictures IPO?
The lot size for Sunshine Pictures IPO is 41 shares, requiring a minimum investment of ₹14,760.
What is the price band of the IPO?
The price band of the IPO is ₹342.0 to ₹360.0.
What is the minimum investment required?
The minimum investment required is ₹14,760.0.
What is the lot size for this IPO?
The lot size is 41 shares.
When is the listing date?
The listing date is expected to be on 25th August 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
18 Aug 2026
Close
20 Aug 2026
Allotment
21 Aug 2026
Listing
25 Aug 2026
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