Sunshine Pictures Filed Draft Papers with SEBI for IPO to Raise Funds

Sunshine Pictures Ltd, a film and television production company backed by Vipul Shah, has filed draft documents with SEBI to raise funds through an Initial Public Offering (IPO). The IPO will offer a total of 83.75 lakh equity shares, including 50 lakh fresh shares and 33.75 lakh shares from promoters via an Offer-for-Sale (OFS).

Promoter Vipul Amrutlal Shah plans to sell 23.69 lakh shares, while Shefali Vipul Shah intends to offload 10.05 lakh shares.

Fund Utilisation

The funds raised from the fresh issue will be used to meet long-term working capital needs, with up to ₹94 crore allocated to support future growth and operations, as well as other general corporate purposes.

Company Overview

Sunshine Pictures is a well-known production house involved in creating, producing, marketing, and distributing films and web series. The company has produced 10 films, including 6 co-productions, along with 2 web series, 2 TV serials, and 1 short commercial film.

Ongoing and Upcoming Projects

Currently, the company is co-producing 2 commercial films with Jio Studios and producing 1 web series for Prasar Bharati. It has 8 films and 2 web series in the production pipeline, with upcoming projects like Good Morning Rhea, Governor, The Kerala Story 2, Bulldozer, Samuk, Kaanha, Bheem, Maaya, Nanavati vs Nanavati, and Whistle Blower.

Financial Performance

Sunshine Pictures has been profitable for the last 3 fiscal years, with a net profit of ₹45.64 crore in H1 FY25. Its revenue from operations was ₹133.8 crore in FY24 and ₹26.51 crore in FY23.

GRY Capital Advisors is the sole book running lead manager for the IPO.

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