• Source:JND
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Sunshine Pictures Limited, backed by film and television producer and director Vipul Shah, has filed draft documents with market regulator Sebi to raise funds through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the total offer size is 83.75 lakh equity shares, including a fresh issue of 5 million shares and an option for sale (OFS) of 33.75 lakh shares offered by the promoters in the IPO.

Promoter Vipul Amrutlal Shah has offered to sell 23.69 lakh shares, while Shefali Vipul Shah plans to offload 10.05 lakh shares. The company plans to use the proceeds from the fresh issue to meet its long-term working capital requirements, earmarking up to Rs 94 crore for future growth and operations and other general corporate purposes.

Listing its equity shares on the stock exchange is expected to enhance the visibility of the company, strengthen its brand image and create a public market for its shares in India. Sunshine Pictures is one of the most popular production houses in the field of creation, development, production, marketing and distribution of films and web series.

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The company has produced 10 commercial films, including 6 in collaboration with leading studios, 2 web series, 2 television series and 1 short film advertisement.

It is currently producing 2 commercial films in collaboration with Jio Studios, which are in production and is producing 1 web series exclusively for Prasar Bharati, streaming on Doordarshan and its OTT platforms. The company also has eight films and two web series in production.

The company's upcoming film projects include Good Morning Riya, Governor, The Kerala Story 2, Bulldozer, Samuk, Kanha and Bheem. Its web series projects include Maya, Nanavati vs Nanavati, and Whistleblower.

The company has been profitable in the last three financial years and the first half of FY25. Its net profit was Rs 45.64 crore in FY24, Rs 52.45 crore in FY23, Rs 2.31 crore in FY22 and Rs 11.2 crore in FY25.

Its net profit from operations in FY24 was Rs 133.8 crore, Rs 26.51 crore in FY23, Rs 87.13 crore in FY22 and Rs 39.02 crore in FY1. GRY Capital Advisors is the only lead manager in this regard.

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(With Inputs From PTI)