What does Sunshine Pictures Ltd do?

Sunshine Pictures Ltd is an Indian media production house engaged in script development, production, co-production, marketing, and distribution of feature films, TV serials, OTT web series, and music videos.

Who is the MD/CEO of Sunshine Pictures Ltd?

The company is led by Mr. Vipul Amrutlal Shah, who serves as the Managing Director and Chief Executive Officer.

What is the issue size and price band for Sunshine Pictures IPO?

The IPO issue size is Rs 282 crore with a price band of ₹342 to ₹360 per equity share and a minimum lot size of 41 shares.

How will Sunshine Pictures Ltd use the IPO proceeds?

The net proceeds from the fresh issue segment will be used to fund working capital requirements (Rs 112.50 crore) and for general corporate purposes.

What are the key financial risks associated with Sunshine Pictures Ltd?

Key risks include declining annual revenue (from Rs 133.80 Cr in FY24 to Rs 74.44 Cr in FY26), negative operating cash flow of Rs 33.21 Cr in FY26, high client concentration, production delay risks, and pending tax proceedings worth Rs 31.74 crore.

What are the important dates for the Sunshine Pictures IPO?

The IPO opens on August 18, 2026, and closes on August 20, 2026. The allotment date is scheduled for August 21, 2026, with a tentative listing date of August 25, 2026.

Is Sunshine Picture IPO good for long term?

Based on our AI analysis, Sunshine Picture has a financial score of N/A/100 and a market potential score of N/A/100.

What is the lot size of Sunshine Picture IPO?

Use the ViewIPO Lot Size Calculator to instantly find the exact lot size and maximum investment limits for Retail, sHNI, and bHNI categories for Sunshine Picture.

Sunshine Picture IPO: GMP, Price & Review

Name: Sunshine Picture IPO
Brand: Sunshine Picture
Rating: 3.8 (1 reviews)

Home›India›Sunshine Picture ()

Sunshine PictureNSE / BSE:

Analyzed by ViewIPO Financial Research Team

Media & EntertainmentIndia•Filed 2026-08-18•Listing 2026-08-25•Size ₹282.2Cr

The total amount of money the company is trying to raise from the public through this IPO.

•Lot Size 41

The minimum number of shares an investor must bid for in an IPO.

Live GMP

Grey Market Premium. The extra amount buyers are willing to pay for the IPO shares in the unofficial market before listing.

₹54 (+15%)

Check Allotment

Status Link

Is Sunshine Picture IPO Good? Quick Verdict

Sunshine Picture IPO scored 46/100 (High Risk) in our deep analysis. The strongest pillar is Dilution at 60/100, while Financial is the primary concern at 35/100. Sunshine Pictures Ltd demonstrates strong intellectual property and blockbuster delivery capabilities, but carries high volatility due to declining multi-year revenues, high customer concentration, and negative operating cash flows.

IPO Score

46/100

High Risk

Quick Verdict

Extensive track record with 13 commercial films produced, including high-ROI blockbusters like The Kerala Story.

Strategic co-production alliances with major studios like Jio Studios and OTT platforms like Amazon Seller Services.

Revenue from operations has declined steadily from Rs 133.80 crore in FY24 to Rs 74.44 crore in FY26.

Turned cash negative with Rs 33.21 crore operating cash outflow in FY26 due to tied-up inventory and receivables.

High customer concentration with top 5 customers accounting for up to 99.83% of consolidated revenue.

Company Snapshot

Revenue (TTM)

Total money brought in by the company's operations before deducting any expenses.

₹74.44Cr↑ -27.96% YoY

Profitability

—Pending Data

Gross Margin

—

Market Cap

—Pending Data

IPO Size

The total amount of money the company is trying to raise from the public through this IPO.

₹282.2Cr

Industry

Media & Entertainment

P/E Ratio

—Pending Data

Risk Breakdown

Governance

Expensive

Financial

High Risk

Valuation

Expensive

Competition

High Risk

Dilution

Moderate

Promoter / Mgmt

Moderate

AI Summary

Sunshine Pictures Ltd is a premier Indian media and entertainment production house founded in 2007 by Mr. Vipul Amrutlal Shah. The company specializes in creating, producing, co-producing, and distributing commercial feature films, television serials, web series, and digital music content. While Sunshine Pictures Ltd has generated notable blockbusters like The Kerala Story and the Commando franchise, it faces financial headwinds from declining revenues over the past three fiscal years and negative operating cash flows of Rs 33.21 crore in FY26.

Overall Verdict: Sunshine Pictures Ltd demonstrates strong intellectual property and blockbuster delivery capabilities, but carries high volatility due to declining multi-year revenues, high customer concentration, and negative operating cash flows.

Key Highlights

•Incorporated in 2007 by prominent filmmaker Mr. Vipul Amrutlal Shah.
•Portfolio includes 13 commercial films, 2 web series, 3 television serials, and original digital/music content.
•The Kerala Story delivered Rs 147.04 crore in revenue for the company and emerged as a top ROI blockbuster in 2023.
•Operates across both self-produced projects (retaining 100% IP rights) and co-productions (fixed fee plus profit share).
•Net fresh issue proceeds of Rs 112.50 crore are dedicated to funding working capital requirements.
•Involved in 8 tax proceedings amounting to Rs 31.74 crore alongside public content litigation.

Financial Performance

Revenue (Annual)
Total money brought in by the company's operations before deducting any expenses.

↓ -28.0% YoY

INR in Crores

Net Income (Annual)
The company's total profit after all expenses, taxes, and costs have been deducted.

Profitability

INR in Crores

Cash Flow vs Profit
Compares actual cash entering the business versus accounting profit. Strong cash flow indicates high earnings quality.

Cash Flow YoY

INR in Crores

EBITDA vs PAT
Earnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.

EBITDA YoY

INR in Crores

EBITDA

PAT

Data not reported in RHP

IPO Timeline

IPO Opens2026-08-18

IPO Closes2026-08-20

Basis of Allotment2026-08-21

Refunds & Demat2026-08-22

Listing Date2026-08-25

Valuation Analysis

IPO Price₹360

Estimated Fair Value

The theoretical true worth of the company based on its financial performance and peers.

Pending Data

Valuation Premium

How much more expensive this IPO is compared to its estimated fair value or its industry peers.

Pending

vs Fair Value

IPO DNA

Growth

Evaluates the company's historical and projected revenue and profit expansion.

Governance

Assesses the quality, transparency, and track record of the company's management team.

Profitability

Measures how effectively the company turns its sales into actual profit.

Valuation

Analyzes whether the IPO price is cheap, fair, or expensive compared to peers.

Competition

Evaluates the company's market share, moats, and competitive threats in its industry.

Execution

Assesses the company's ability to successfully utilize IPO proceeds and deliver on its promises.

Pros vs Cons

Pros

Demonstrated execution capability with multiple successful film franchises including Force, Commando, Holiday, and The Kerala Story.
Dual model of self-production and co-production provides IP ownership upside alongside risk-mitigated fixed-fee streams.
In-house content development, editing, and flexible actor fee structures ensure disciplined cost control.
Growing presence in high-margin ancillary streams such as music publishing (Sunshine Music) and digital media (Sunshine Digital).

Cons

Revenue from operations has shown a consistent drop over 3 years from Rs 133.80 crore (FY24) to Rs 74.44 crore (FY26).
Extreme reliance on top 5 clients, contributing up to 99.83% of consolidated revenues in FY25.
Negative operating cash flow of Rs 33.21 crore in FY26 due to accumulation of inventory and delayed trade receivables.
Exposure to regulatory, legal, and tax liabilities, including Rs 31.74 crore across 8 pending direct/indirect tax proceedings.

Financial Health

Revenue Growth

The year-over-year percentage increase in the company's total sales.

Decline from Rs 133.80 Cr (FY24) to Rs 74.44 Cr (FY26) (Weak)

Debt Level

An assessment of whether the company's borrowing is manageable or risky.

Undisclosed (Moderate)

Cash & Equivalents

How much liquid cash the company has on hand to fund daily operations.

-Rs 33.21 Cr Operating Cash Flow (FY26) (Weak)

Institutional Signals

Anchor Investors

Large institutional investors who buy shares before the IPO opens to the public, signaling confidence.

Undisclosed

VC Backing Tier

Whether renowned Venture Capital or Private Equity firms have invested in the company.

Undisclosed

Strategic Partners

Key business alliances that give the company a competitive edge.

Tier 1 (Jio Studios, Amazon Seller Services)

Sunshine Picture IPO Reddit Pulse & Sentiment

Real-time Reddit discussions & retail sentiment

No Public Data Available

We couldn't find any significant public discussions or retail sentiment threads for this IPO at the moment.

Disclaimer: These are raw community discussions aggregated from public forums. The AI summary and Reddit comments do not constitute financial advice. Always conduct your own independent research.

Sunshine Picture IPO — Frequently Asked Questions

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IPO Terminology Explained

Confused by terms like GMP, Kostak, or Subject to Sauda? Read our detailed guides in the IPO Glossary to understand the terminology before you invest.

Grey Market Premium (GMP)Subject to Sauda ASBA Offer for Sale (OFS)

View Full Glossary

Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.

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Frequently Asked Questions about Sunshine Picture

What is the expected listing price of Sunshine Picture?

The expected listing price depends on the live Grey Market Premium. Check the live GMP and expected listing price for Sunshine Picture on our Live GMP Tracker.

Sunshine Picture IPO Analysis & Review

Quick Answers

Key IPO Information

ViewIPO AI Analysis Score

Frequently Asked Questions

What does Sunshine Pictures Ltd do?

Who is the MD/CEO of Sunshine Pictures Ltd?

What is the issue size and price band for Sunshine Pictures IPO?

How will Sunshine Pictures Ltd use the IPO proceeds?

What are the key financial risks associated with Sunshine Pictures Ltd?

What are the important dates for the Sunshine Pictures IPO?

Sunshine PictureNSE / BSE:

Is Sunshine Picture IPO Good? Quick Verdict

Quick Verdict

Company Snapshot

Risk Breakdown

AI Summary

Key Highlights

Financial Performance

Revenue (Annual) Total money brought in by the company's operations before deducting any expenses.

Net Income (Annual) The company's total profit after all expenses, taxes, and costs have been deducted.

Cash Flow vs Profit Compares actual cash entering the business versus accounting profit. Strong cash flow indicates high earnings quality.

EBITDA vs PAT Earnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.

IPO Timeline

Valuation Analysis

IPO DNA

Pros vs Cons

Pros

Cons

Financial Health

Institutional Signals

Sunshine Picture IPO Reddit Pulse & Sentiment

No Public Data Available

Sunshine Picture IPO — Frequently Asked Questions

Related IPO Reports

Skyways Air

Dhanwel Hybrid Seeds

Mopshop Distribution

Gaja Alternate Asset Management

Sunshine Pictures

IPO Terminology Explained

Want to analyze another IPO?

Frequently Asked Questions about Sunshine Picture

Is Sunshine Picture IPO good for long term?

What is the lot size of Sunshine Picture IPO?

What is the expected listing price of Sunshine Picture?

Revenue (Annual)
Total money brought in by the company's operations before deducting any expenses.

Net Income (Annual)
The company's total profit after all expenses, taxes, and costs have been deducted.

Cash Flow vs Profit
Compares actual cash entering the business versus accounting profit. Strong cash flow indicates high earnings quality.

EBITDA vs PAT
Earnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.