Shares of film and television producer-director Vipul Shah-promoted Sunshine Pictures Ltd on Tuesday listed with a premium of nearly 10% against the issue price of ₹360.
Sunshine Pictures Shares Jump 10% In Market Debut Trade
The initial public offering of Sunshine Pictures Ltd received 105.81 times subscription on the last day of bidding on Thursday, helped by a strong investor response.
Sunshine Pictures Shares Jump 10% In Market Debut Trade
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The stock started trading at ₹394, registering a jump of 9.44% on the BSE.
At the NSE, the stock listed at ₹395.90, up 9.97%.
The company's market valuation stood at ₹1,181.63 crore.
The initial public offering of Sunshine Pictures Ltd received 105.81 times subscription on the last day of bidding on Thursday, helped by a strong investor response.
The ₹282-crore IPO had a price band of ₹342-360 per share.
The mainboard issue had a fresh issuance of 48 lakh equity shares and an Offer-for-Sale (OFS) of 30.37 lakh equity shares, taking the total offer size to 78.37 lakh shares.
The company plans to utilise up to ₹112.50 crore from the IPO proceeds to meet its long-term working capital requirements, with the remaining amount earmarked for general corporate purposes.
Sunshine Pictures is engaged in originating, creating, developing, producing, marketing and distributing films and web series.