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Film and television producer-director Vipul Shah-promoted Sunshine Pictures Ltd yesterday mobilised Rs 84.64 crore from nine anchor investors ahead of its initial public offering (IPO).
According to a PTI report yesterday, the company has allotted over 23.51 lakh equity shares at Rs 360 apiece, the upper end of its IPO price band, to the anchor investors, according to a circular uploaded on the BSE website.
The anchor investors include Innovative Vision Fund, Khandelwal Finance Pvt Ltd, Arnesta Global Opportunities Fund, Uni Growth Fund, Zeal Global Opportunities Fund, Visionary Value Fund, The Asio Fund VCC, Shine Star Build Cap Pvt Ltd and LRSD Securities Pvt Ltd.
Sunshine Pictures Ltd will open its Rs 282-crore initial public offering (IPO) for subscription on August 18, with a price band of Rs 342-360 per share.
The IPO comprises a fresh issue 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.
Promoters Vipul Amrutlal Shah and Shefali Vipul Shah will sell shares through the OFS. Vipul Shah will offload 20.31 lakh shares, while Shefali Shah will sell 10.06 lakh shares.
The company plans to utilise up to Rs 112.50 crore from the fresh issue to meet its long-term working capital requirements, with the remaining proceeds earmarked for general corporate purposes.
The proposed listing is expected to enhance Sunshine Pictures’ visibility, strengthen its brand image and create a public market for its equity shares in India.
The equity shares will be listed on both BSE and NSE on August 25. GYR Capital Advisors Private Ltd is the book-running lead manager to the issue, while Bigshare Services Private Ltd is the registrar.
