Should You Apply for Sunshine Pictures IPO on August 18? Check ₹282 Crore Issue, Price Band and Financials

Sunshine Pictures IPO is set to open for subscription on August 18, 2026, and close on August 20. The ₹282.14 crore bookbuilding IPO comprises a fresh issue of 48 lakh shares worth ₹172.80 crore and an offer for sale of 30.37 lakh shares worth ₹109.34 crore. The price band is ₹342 to ₹360 per share, while the IPO is proposed to list on BSE and NSE on August 25.

The company operates in film production, television and web content, with projects spanning production, marketing, distribution and intellectual property monetisation. The minimum retail application is 41 shares, requiring ₹14,760 at the upper price band. The latest GMP is ₹50, indicating an estimated listing price of ₹410 and an indicative gain of 13.89%.

IPO details and price band

IPO metric	Details
IPO size	₹282.14 crore
Fresh issue	₹172.80 crore
Offer for sale	₹109.34 crore
Price band	₹342 to ₹360
Face value	₹10
Lot size	41 shares
Retail minimum investment	₹14,760
Market cap at upper price	₹1,121.36 crore
Issue type	Bookbuilding IPO
Listing	BSE, NSE
IPO opens	August 18, 2026
IPO closes	August 20, 2026
Allotment	August 21, 2026
Listing	August 25, 2026

Sunshine Pictures IPO GMP

The latest Sunshine Pictures IPO GMP is ₹50, updated on August 15, 2026. At the upper price band of ₹360, the GMP implies an estimated listing price of ₹410 and an indicative gain of 13.89%.

GMP DateIPO PriceGMPSubscriptionEstimated Listing PriceEstimated Profit per Lot
15 Aug 2026	₹360	₹50 ➖	-	₹410 (13.89%)	₹2,050
14 Aug 2026	₹360	₹50 △	-	₹410 (13.89%)	₹2,050
13 Aug 2026	₹360	₹30 △	-	₹390 (8.33%)	₹1,230
12 Aug 2026	₹360	₹17 △	-	₹377 (4.72%)	₹697
11 Aug 2026	₹360	₹0 ➖	-	₹360 (0.00%)	₹0

GMP is indicative and does not guarantee the actual listing price.

Business of Sunshine Pictures

Sunshine Pictures was incorporated in 2007 and is engaged in originating, developing, producing, marketing and distributing films, TV serials and web series.

The company has produced films including Force, Commando, Holiday, Force 2, Commando 2 and The Kerala Story. It has also produced web series, television serials and short films.

The company has produced 10 commercial films, including six co-produced films, along with two web series, two TV serials and one short film. It is currently involved in film and web-series projects.

Financial performance

The latest consolidated financial figures provided show total income of ₹105.80 crore in FY25, compared with ₹139.46 crore in FY24. Profit after tax stood at ₹34.46 crore in FY25, compared with ₹53.35 crore in FY24.

Financial metric	FY24	FY25
Total assets	₹97.38 crore	₹131.28 crore
Total income	₹139.46 crore	₹105.80 crore
Profit after tax	₹53.35 crore	₹34.46 crore
EBITDA	₹73.97 crore	₹50.76 crore
Net worth	₹70.60 crore	₹105.07 crore
Total borrowing	₹16.67 crore	₹11.16 crore

Use of IPO proceeds

The company plans to use ₹112.50 crore from the IPO proceeds for working capital requirements. The remaining proceeds are intended for general corporate purposes.

IPO object	Amount
Working capital requirements	₹112.50 crore
General corporate purposes	Balance
Total stated amount	₹112.50 crore

Valuation and key ratios

At the upper price band, the IPO has a post-issue P/E of 32.55 times. The company reported ROE of 31.99%, ROCE of 36.20% and debt-to-equity of 0.06.

Valuation metric	Figure
EPS pre-IPO	₹13.08
EPS post-IPO	₹11.06
P/E pre-IPO	27.52x
P/E post-IPO	32.55x
Market cap at offer price	₹1,121.36 crore
ROE	31.99%
ROCE	36.20%
Debt/Equity	0.06
NAV	₹55.08
Price to book	6.54x

Shareholding pattern

Promoter and promoter group holding is expected to fall from 100% before the IPO to 74.84% after the issue, while public shareholding is expected to stand at 25.16%.

Shareholder category	Pre-IPO	Post-IPO
Promoter and promoter group	100%	74.84%
Public	0%	25.16%
Total	100%	100%

IPO outlook

Sunshine Pictures is entering the market with a ₹282.14 crore IPO, combining fresh capital with an offer for sale. The company has a presence across films, television and web content, while its financials show lower total income and profit in FY25 compared with FY24.

The latest GMP of ₹50 points to an estimated listing price of ₹410, but investors should also consider the IPO valuation, earnings trend, content business risks and the use of fresh issue proceeds before making an investment decision.

What is the Sunshine Pictures IPO?

Sunshine Pictures IPO is a mainboard bookbuilding IPO of ₹282.14 crore. The issue includes a fresh issue of ₹172.80 crore and an offer for sale of ₹109.34 crore.

When will the Sunshine Pictures IPO open?

The IPO will open for subscription on August 18, 2026.

When will the Sunshine Pictures IPO close?

The IPO will close on August 20, 2026.

What is the Sunshine Pictures IPO price band?

The price band has been fixed at ₹342 to ₹360 per share.

What is the Sunshine Pictures IPO lot size?

The lot size is 41 shares. Investors must apply for at least one lot.

What is the minimum investment for Sunshine Pictures IPO?

At the upper price band of ₹360, the minimum retail investment is ₹14,760 for 41 shares.

What is the Sunshine Pictures IPO listing date?

The tentative listing date is August 25, 2026, on both NSE and BSE.

How much is the Sunshine Pictures IPO worth?

The total IPO size is ₹282.14 crore, comprising a fresh issue of ₹172.80 crore and an offer for sale of ₹109.34 crore.

What will Sunshine Pictures use the IPO money for?

The company plans to use ₹112.50 crore from the issue proceeds to fund its working capital requirements. The remaining amount is intended for general corporate purposes.

Is Sunshine Pictures profitable?

Yes. Sunshine Pictures reported a profit after tax of ₹34.46 crore in FY25, compared with ₹53.35 crore in FY24. The company also reported an EBITDA of ₹50.76 crore in FY25.

What are Sunshine Pictures' key financial ratios?

For FY25, the company reported ROE of 31.99%, ROCE of 36.20%, RoNW of 27.58%, PAT margin of 53.77% and EBITDA margin of 78.65%.

What is the debt level of Sunshine Pictures?

The company's total borrowings stood at ₹11.16 crore in FY25, down from ₹16.67 crore in FY24. Its debt to equity ratio was 0.06 in FY25.

What is the Sunshine Pictures IPO valuation?

At the upper price band of ₹360, the post IPO market capitalisation is estimated at ₹1,121.36 crore. The post IPO P/E is 32.55 times based on the supplied IPO details.

What is the latest Sunshine Pictures IPO GMP?

The latest supplied GMP is ₹50 against the upper price band of ₹360. This indicates an estimated listing price of ₹410 and an indicative gain of 13.89%. GMP is only an indication and does not guarantee the actual listing price.

What does Sunshine Pictures do?

Sunshine Pictures is a film and content production company involved in film production, TV serials, web series, marketing, distribution and monetisation of content rights. It has produced films including Force, Commando, Holiday, Force 2, Commando 2 and The Kerala Story.

Who are the promoters of Sunshine Pictures?

The promoters are Vipul Amrutlal Shah, Shefali Vipul Shah, Aryaman Vipul Shah and Maurya Vipul Shah.

Should you apply for the Sunshine Pictures IPO?

The supplied IPO review describes the issue as aggressively priced, while also noting the company's project strategy and profitability. The IPO has strong reported margins and low debt, but investors should also consider the company's declining revenue trend and the valuation before applying.