Sunshine Pictures Aims for Stellar IPO Launch

Sunshine Pictures Ltd is set to launch an IPO, offering 83.75 lakh equity shares, with both a fresh issue and Offer-for-Sale by promoters. Proceeds will support working capital and growth. Known for producing films and web series, the company has a strong financial track record and upcoming projects.

Sunshine Pictures Ltd, spearheaded by producer-director Vipul Shah, is preparing to make a significant financial move by filing draft papers with Sebi to initiate an IPO. This release aims to raise funds through 83.75 lakh equity shares.

The IPO will include 50 lakh fresh issue shares and an Offer-for-Sale consisting of 33.75 lakh shares by the promoters. Prominent figures like Vipul Amrutlal Shah and Shefali Vipul Shah are set to sell 23.69 lakh and 10.05 lakh shares, respectively.

The funds raised will bolster the company's long-term working capital requirements, contributing up to Rs 94 crore to support future growth and general corporate purposes. Listing these shares on the stock exchange aims to enhance the firm's visibility and brand image.

(With inputs from agencies.)