Q1. What is the business of Sunshine Picture Ltd?

Sunshine Pictures Ltd is a film, TV, and digital content production company engaged in creating, developing, producing, marketing, and distributing movies, web series, and serials, with a strong focus on commercially driven, technology-backed storytelling.

Q2. Why is the company raising funds via IPO?

The company is raising capital primarily to meet long-term working capital needs, support upcoming content projects, strengthen financial flexibility, and enhance overall business growth, while providing partial exit liquidity to promoters through the Offer for Sale.

Q3. What is the size of the issue and where will it list?

The IPO comprises up to 83.75 lakh equity shares, including a fresh issue and promoter Offer for Sale. Post-approval, the shares will be listed on aNSE and BSE, enabling broader market participation.

Q4. What are the risks to an investor?

Key risks include dependence on project success, unpredictable film revenues, high industry competition, potential production delays, cost overruns, and limited revenue stability, which could affect profitability and long-term financial performance.

Q5. What are the potential upsides?

The company’s strong FY24 performance, experienced promoters, expanding multi-format content pipeline, rising OTT demand, and industry growth create potential for long-term value creation, improved margins, and diversified revenue opportunities.

Q6. How to apply for the IPO?

Investors can apply through their broker’s IPO section using UPI, ASBA, or net-banking. They must select the IPO, choose lot quantity, complete UPI authentication, and wait for allotment confirmation.

Sunshine Picture Ltd IPO

Upcoming

16 July 2026

0

Rating

Sunshine Pictures Ltd is a creative film and media production company dedicated to producing high-quality visual content for entertainment and commercial use. With a strong focus on storytelling, innovation, and visual excellence, the company delivers films, advertisements, and digital media that captivate audiences.

Sunshine Picture Ltd was incorporated in the year 2007.Vipul Amrutlal Shah is the MD of this company.Vipul Amrutlal Shah;Shefali Vipul Shah;Aryaman Vipul Shah;Maurya Vipul Shah.

Commercial films (e.g., The Kerala Story, Commando series, Bastar – 10 films produced, 2 under-production); Web series (e.g., Humans, 2 produced, 2 pipeline); TV serials (e.g., Bhed Bharam – 2 produced, expected ₹49.5 Cr revenue from 150 episodes); Short films & digital content; Music label (Sunshine Music); VFX, 3D filming, post-production services; Talent management & social media monetization (162K YouTube subs, 91M+ views).

Subscription date to apply for Sunshine Picture Ltd starts and closes TBA. Price band for the IPO is TBA.

83.75 lakh equity shares

Fresh Issue

50 lakh equity shares

Offer for Sale

33.75 lakh equity shares

Year	2024
Networth	~ ₹ 69.70 Cr
Revenue	~ ₹ 133.79 Cr
EBITDA	~ ₹ 73.07 Cr
PAT	~ ₹ 52.45 Cr
EBITDA Margin	~54.62%
PAT Margin	~39.20%
Face Value	Rs.10 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
Working Capital Requirement	~ ₹ 94 Cr
-	-
-	-
-	-
-	-
-	-

Financial Data

#	2022	2023	2024
Revenue (₹ Cr)	₹ 87.1	₹ 26.5	₹ 133.8
PAT (₹ Cr)	₹ 11.2	₹ 2.3	₹ 52.5
Asset (₹ Cr)	₹ 26.6	₹ 38.6	₹ 96.5
Net Worth (₹ Cr)	₹ 25.0	₹ 27.3	₹ 69.7

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
17-Jun	₹ –	₹ –	₹ –
16-Jun	₹ –	₹ –	₹ –
15-Jun	₹ –	₹ –	₹ –
14-Jun	₹ –	₹ –	₹ –
13-Jun	₹ –	₹ –	₹ –

Pros

Strong promoter experience with proven film hits, enhancing business credibility and creative capability.
Expanding content pipeline across films, OTT series, and TV increases revenue diversification.
High FY24 profitability and strong RoNW indicate efficient operations and financial strength.
Industry demand for digital entertainment is rising, offering long-term growth potential.
Low debt and promoter-driven stability reduce financial risk for new investors.

Cons

Film and content performance is unpredictable, causing high revenue volatility.
Heavy dependence on a limited number of successful projects increases business risk.
Delays, cancellations, or cost overruns can significantly impact margins.
Competitive industry with established studios and OTT players pressures profitability.
No fixed recurring revenue model; earnings vary year-to-year based on project success.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Vipul Amrutlal Shah	~29.05%
Shefali Vipul Shah	~25%
Aryaman Vipul Shah	~22.97%
Maurya Vipul Shah	~22.97%
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	00
ROCE	00
RoNW	00

Lead / Book Running Lead Managers

GYR Capital Advisors Pvt Ltd

Registrar (RTA)

Bigshare Services Private Limited

Q1. What is the business of Sunshine Picture Ltd?
Sunshine Pictures Ltd is a film, TV, and digital content production company engaged in creating, developing, producing, marketing, and distributing movies, web series, and serials, with a strong focus on commercially driven, technology-backed storytelling.
Q2. Why is the company raising funds via IPO?
The company is raising capital primarily to meet long-term working capital needs, support upcoming content projects, strengthen financial flexibility, and enhance overall business growth, while providing partial exit liquidity to promoters through the Offer for Sale.
Q3. What is the size of the issue and where will it list?
The IPO comprises up to 83.75 lakh equity shares, including a fresh issue and promoter Offer for Sale. Post-approval, the shares will be listed on aNSE and BSE, enabling broader market participation.
Q4. What are the risks to an investor?
Key risks include dependence on project success, unpredictable film revenues, high industry competition, potential production delays, cost overruns, and limited revenue stability, which could affect profitability and long-term financial performance.
Q5. What are the potential upsides?
The company’s strong FY24 performance, experienced promoters, expanding multi-format content pipeline, rising OTT demand, and industry growth create potential for long-term value creation, improved margins, and diversified revenue opportunities.
Q6. How to apply for the IPO?
Investors can apply through their broker’s IPO section using UPI, ASBA, or net-banking. They must select the IPO, choose lot quantity, complete UPI authentication, and wait for allotment confirmation.