Vipul Shah-Promoted Film and Television Production Company Receives Bids for Over 10.12 Crore Shares Against 54.86 Lakh Shares on Offer
New Delhi (Economy India): The initial public offering (IPO) of Sunshine Pictures Ltd, promoted by film and television producer-director Vipul Shah, witnessed strong investor demand on the second day of bidding on Wednesday.
The ₹282-crore IPO was subscribed 18.46 times, according to subscription data available with the National Stock Exchange (NSE).
The issue received bids for 10,12,89,516 shares against 54,86,051 shares offered to investors.
Retail Investors Show Strong Interest
Retail investors continued to show significant interest in the public issue.
The retail portion was subscribed 21.59 times, indicating strong participation from individual investors.
The non-institutional investor category witnessed even stronger demand, with the segment subscribed 35.59 times the shares reserved for it.
QIB Portion Sees Limited Subscription
The Qualified Institutional Buyers (QIB) category was booked at around 14 per cent by the second day of the issue.
The relatively lower subscription in the institutional category contrasts with the strong demand from retail and non-institutional investors.
Sunshine Pictures IPO Subscription
| Investor Category | Subscription |
|---|---|
| Retail Investors | 21.59 times |
| Non-Institutional Investors | 35.59 times |
| QIBs | 14% |
| Overall IPO | 18.46 times |
₹282 Crore IPO
Sunshine Pictures Ltd is looking to raise approximately ₹282 crore through the public issue.
The company operates in the film and television production sector and is promoted by producer-director Vipul Shah.
The strong subscription on Day 2 indicates considerable investor interest in the company’s public offering.
Strong Demand Ahead of Final Day
With the IPO already receiving bids several times the number of shares available, investor interest is expected to remain closely watched during the remaining subscription period.
The strong response from retail and non-institutional investors has been the key feature of the issue so far.
Investors will also be monitoring the company’s business prospects, valuation, financial performance and the overall outlook for India’s media and entertainment industry.
Economy India Takeaway
The Sunshine Pictures IPO was subscribed 18.46 times on Day 2, receiving bids for more than 10.12 crore shares against approximately 54.86 lakh shares on offer.
The non-institutional investor portion was subscribed 35.59 times, while the retail category was subscribed 21.59 times. The QIB portion had received bids for around 14 per cent of the shares reserved for the category.
The strong subscription highlights substantial investor interest in the ₹282-crore public issue of Vipul Shah-promoted Sunshine Pictures.
(Economy India)
