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Sunshine Pictures IPO
122.57xsubscribed

Sunshine Pictures IPO

Film Production
listed
₹14,022Min. investment

Sunshine Pictures Limited IPO Details

SectorFilm Production
Price range₹342 – ₹360
IPO type
Regular
Lot size41 shares
Issue size₹282Cr
Red Herring Prospectus
Read
Market cap
₹1,121CrHigher than sector avg
RevenueApr 2025 - Mar 2026
₹74.43CrLower than sector avg
Growth rate3Y CAGR
-25.41%Lower than sector avg

Sunshine Pictures IPO Subscription Status

Date
QIB
NII
Retail
Total
18-Aug-26
0.01 times (X)
12.87 times (X)
4.6 times (X)
3.76 times (X)
19-Aug-26
0.05X
76.8X
16.43X
16.0X
20-Aug-26
105.11X
581.52X
55.48X
122.57X

As on 18-Aug-26, 5:30 PM

Sunshine Pictures IPO Timeline

  1. Pre-apply
    14 Aug 2026
  2. Bid start
    18 Aug 2026
  3. Bid end
    20 Aug 2026
  4. Allotment
    21 Aug 2026
  5. Release of funds
    24 Aug 2026
  6. Demat transfer
    24 Aug 2026
  7. Listing
    25 Aug 2026

About Sunshine Pictures Limited

Sunshine Pictures IPO will open for subscription on Tuesday, August 18 2026. The company operates in media and entertainment industry engaged in originating, developing, producing, marketing and distribution of feature films, television programmes, web series and other audio-visual content.
Incorporated in 2007, the company has over 18 years of experience in the Indian film and entertainment industry. Its debut production, Force, was a commercial success, followed by films such as Commando: A One-Man Army, Holiday: A Soldier is Never Off Duty, Force 2, Commando 2: The Black Money Trail, The Kerala Story and Bastar.
As of the date of the RHP, Sunshine Pictures has produced 13 commercial films, comprising seven co-produced and six self-produced films, along with two web series, three television serials and one short commercial film. The company operates across feature films, television programmes, web series, music and digital originals. It follows co-production and sole-production models, wherein the former allows it to share project costs and risks with established studios, while the latter enables the company to retain intellectual property and associated rights. The company monetises its content through theatrical, OTT, satellite television, music and other ancillary rights. The company has also launched Sunshine Music and Sunshine Digital (Originals), with 36 original music videos and 2 digital originals.
Production and distribution of films and associated rights remained the highest contributor to revenue in FY26 at 89.6% or ₹66.76 crore, followed by other activities at 8.9% or ₹6.69 crore, comprising music rights exploitation, talent management, social media platforms and the music label. Production and distribution of web series/TV serials and associated rights contributed 1.3% or ₹0.99 crore. The top five customers accounted for 74.8% of revenue from operations in FY26, while the top ten contributed 87.7%.
The company also derives revenue from overseas distribution rights, with export revenue of ₹10.01 crore in FY26, accounting for 13.4% of revenue from operations. The company has six films and two web series in its pipeline, including Hisaab, co-produced with Jio Studios, Samuk and Nanavati vs Nanavati, all scheduled for FY27. Sunshine Pictures plans to increase production capacity by expanding its writer pool and developing young creative talent, while diversifying its content across genres and formats and strengthening theatrical distribution through film acquisitions.
Sunshine Pictures project cycle typically runs for 15 to 30 months, covering script development, pre-production, production, post-production and distribution. It follows a technology-driven workflow using digital tools for budgeting, scheduling and production planning, along with digital intermediate colour grading, high-resolution editing, Dolby Atmos sound mixing and VFX capabilities.
India’s Media & Entertainment (M&E) sector grew by 9.1% YoY to ₹2.78 lakh crore in CY25 from ₹2.55 lakh crore in CY24 and is projected to reach ₹2.86 lakh crore in CY26, registering a CAGR of around 6.3% between CY22 and CY26. Digital media was the largest segment in CY25 with a 40% market share, followed by television at 22%, print at 9%, online gaming at 7% and filmed entertainment at 7%. The sector is expected to reach ₹3.30 lakh crore by CY28, driven by rising internet and smartphone penetration, affordable data and growing preference for on-demand and personalised content. The share of new media, including digital platforms and online gaming, increased from 20% in 2019 to 47% in 2025. The increasing use of VFX in films, television shows and web series is also creating opportunities for India, with international production houses outsourcing VFX work to the country due to its cost-effectiveness and quality.
Sunshine Pictures is positioned to benefit from the shift towards digital and on-demand entertainment as content consumption moves from traditional media towards streaming and digital platforms. The growing use of VFX and increasing outsourcing of VFX work to India provide opportunities to improve the quality and scale of content production. Its presence across films, web series, television and digital content allows it to cater to different formats and audiences, while its overseas distribution business provides an avenue to benefit from growing international demand for Indian content.
Now, Sunshine Pictures Limited is launching its initial public offering (IPO), which consists of a fresh issue of ₹173 crore and an offer for sale of ₹109 crore. The total issue size of the IPO is ₹282 crore. Its shares will be listed on the NSE and BSE.
How to pre-apply for Sunshine Pictures IPO?

You can pre-apply for Sunshine Pictures IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription.

Follow these steps to pre-apply for the IPO:

  • Login to your Upstox account, using your six-digit PIN
  • After successfully logging in, click on ‘Discover’
  • On the Discover tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Sunshine Pictures IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Pre-Apply’
  • Accept the mandate on your UPI app
How to apply for Sunshine Pictures IPO?

If you are interested in this investment opportunity but unsure how to apply for Sunshine Pictures IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Sunshine Pictures IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Sunshine Pictures IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Apply’
  • Accept the mandate on your UPI app
How to check allotment status for Sunshine Pictures IPO?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.
Here’s a step-by-step guide on how to check the Sunshine Pictures IPO allotment status:
  • Login to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, you will find the ‘View all’ option
  • Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
  • In the ‘IPO’ tab, click on ‘My applications’
  • In ‘My applications’, under the History section, your Sunshine Pictures IPO allotment status will be mentioned

Sunshine Pictures Limited IPO Analysis

IPO REVIEW

Sunshine Pictures IPO | Analysis Video

Should you apply?

Watch our analysts break down the Sunshine Pictures Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Balanced production model

The company uses both co-production and sole-production models. Co-productions allow the company to share the financial risk with its partners, while producing a project on its own gives it greater control over the intellectual property. It can then earn from multiple rights, including theatrical, OTT, music and other rights.

Established industry network

The company has more than 17 years of experience in the entertainment industry. During this period, it has built relationships with studios, talent agencies and creative professionals. Its experience and track record of commercially successful projects have also helped it secure repeat collaborations with major industry players.

Multiple content and revenue streams

The company has worked across films, television, web series, music and digital originals. This gives it several ways to generate revenue from its content, including theatrical releases, OTT rights, satellite rights and music. Successful projects can also be extended through sequels and adaptations, providing additional opportunities to monetise its intellectual property.

Growing film and digital content

India’s film entertainment industry increased from ₹7,200 crore in 2020 to ₹19,700 crore in 2023 and is expected to reach ₹23,800 crore by 2026, implying a CAGR of 6.5%. The addition of cinema screens, particularly in Tier II and Tier III cities, along with the continued expansion of OTT platforms, could create more opportunities for content producers such as Sunshine Pictures.

Rising demand for Indian content overseas

Overseas theatrical releases accounted for 10% of the Indian film entertainment market in 2023. The US, UK and Australia were among the key international markets. As Indian films find a larger audience overseas, Sunshine Pictures has an opportunity to expand its international distribution and reach new viewers.

Digital media expansion

Higher mobile penetration and access to affordable data are encouraging more people to consume entertainment through digital platforms. This gives Sunshine Pictures an opportunity to create content suited to digital audiences, use audience insights to understand viewing preferences and expand its presence in the digital entertainment space.

Objectives of Sunshine Pictures Limited IPO

Working capital
65.10%
The company will use up to ₹112.50 crore for funding its working capital requirements.
General corporate purposes
34.90%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹74.43Cr-25.41%₹40.02Cr₹1,121Cr23.700.06
This sector (avg.)₹176.73Cr0.01%-₹14.12Cr₹872.22Cr98.371.05
₹3,598.88Cr----₹458.29Cr₹17,508.68Cr---6.43
₹5,779.9Cr----₹280.9Cr₹9,572.53Cr---1.10
₹310.69Cr---₹166.56Cr₹6,952.12Cr36.910.02

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Sunshine Pictures IPO Contact Details

Company NameSunshine Pictures Limited

How to apply for Sunshine Pictures IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Sunshine Pictures Limited IPO FAQs

Investors can apply for the Sunshine Pictures IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Sunshine Pictures IPO is 282 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Sunshine Pictures IPO will be open between 2026-08-18 and 2026-08-20.
Sunshine Pictures IPO allotment date is 2026-08-24. For Sunshine Pictures IPO allotment status check, you can visit the website of the registrar of the IPO.
For Sunshine Pictures IPO, the IPO registrar is Bigshare Services Private Limited. You can check Sunshine Pictures IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Sunshine Pictures IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Sunshine Pictures IPO lot size is 41 and minimum order quantity is 41.
Sunshine Pictures IPO has set the price band for its IPO at 360 per equity share with a face value of 10.