Sunshine Pictures IPO: Price band fixed at ₹342-₹360, issue size, subscription dates and key details

Summary:

Sunshine Pictures IPO price band is fixed at ₹342–₹360 per share. The ₹282.14 crore issue opens August 18 and closes August 20, 2026, with listing tentatively set for August 25 on BSE and NSE.

Sunshine Pictures IPO: Key details

QIB gets not more than 50% of the net offer, retail not less than 35%, and NII not less than 15%, a retail-friendly split for a mainboard issue. GYR Capital Advisors is the lead manager. The offer for sale comes from two promoter shareholders, Vipul Amrutlal Shah and Shefali Vipul Shah, and promoter holding comes down from 100% pre-issue to around 74.84% post-issue, with public shareholding settling near 25.16%.

About Sunshine Pictures: Business overview

What does Sunshine Pictures do?

Incorporated in 2007, Sunshine Pictures is a Mumbai-based production company involved in originating, developing, producing, marketing, and distributing films, TV serials, and web series. It describes itself as a technology-driven content creator, covering everything from script development to intellectual property creation, rights monetisation, and distribution.

The company's filmography includes commercially notable titles like Force, Commando, Holiday, Force 2, Commando 2, and The Kerala Story, a mix that spans mainstream action and socially themed cinema. That track record gives the company a recognisable name in Hindi commercial filmmaking heading into this listing.

Key financial highlights

Revenue and profit actually declined on a consolidated basis from FY24 to FY25. The FY26 standalone numbers, reported separately, show a stronger year, a reminder that film production revenue tends to move in step with release timing and rights sales rather than climbing steadily.

Sunshine Pictures IPO valuation: Is ₹360 justified?

At the upper price band, the post-issue P/E works out to 32.55 times, a step up from the pre-issue figure, reflecting the new shares being issued. Return ratios stay strong on a standalone basis, with ROE near 32% and ROCE around 36%, alongside a debt-to-equity ratio well under 0.1.

Whether ₹360 is justified comes down to how an investor reads the swing in financial performance across years. A 32.5x earnings multiple is a meaningful ask for a media production business, where revenue naturally moves with which films release and when. The strong FY26 standalone numbers help the case, but the FY24-to-FY25 decline on a consolidated basis is a reminder this isn't a business with predictable, linear growth.

Should you apply for Sunshine Pictures IPO?

There's a case for interest here given the company's recognisable filmography and healthy standalone margins in the most recent year. But film production is inherently project-based, and revenue and profit can swing sharply depending on what is released and how it performs, which the consolidated FY24–FY25 numbers show directly.

At over 32 times post-issue earnings, the pricing leaves limited room for a soft year to go unnoticed by the market. This looks like a name better suited to investors comfortable with the lumpiness of media revenue rather than those seeking predictable earnings.

How to apply for Sunshine Pictures IPO

Applications can be made through ASBA via net banking or UPI through a broker app. Log in, find Sunshine Pictures under current IPOs, enter the quantity and bid price within the ₹342–₹360 band, and authorise the payment mandate. Retail investors can also bid at the cut-off price, which keeps things simple if you're not targeting a specific price point within the band.

Sunshine Pictures IPO: Important dates

Conclusion

Sunshine Pictures brings a recognisable production house to the market at ₹342–₹360 a share, with bidding running August 18 to 20 and listing set for August 25. The company's filmography is a genuine draw, but its financial history shows real year-to-year swings, and the valuation asks investors to look past that volatility. The days ahead of bidding will show how the market weighs that trade-off.