Sunshine Pictures secures Rs 84.64 crore from anchor investors ahead of IPO

Sunshine Pictures Ltd has secured Rs 84.64 crore from nine anchor investors ahead of its initial public offering (IPO). The company allotted over 23.51 lakh equity shares at the upper price band of Rs 360 per share to investors including Innovative Vision Fund and Khandelwal Finance Pvt Ltd.

The Rs 282-crore IPO is scheduled to open for subscription on August 18 with a price band of Rs 342-360 per share. The offering includes a fresh issue of 48 lakh equity shares and an offer for sale (OFS) of 30.37 lakh equity shares. Promoters Vipul Amrutlal Shah and Shefali Vipul Shah will participate in the OFS, selling a combined total of approximately 30.37 lakh shares.

Proceeds from the fresh issue are intended to cover long-term working capital requirements and general corporate purposes. The company expects to list on both the BSE and NSE on August 25.