Sunshine Pictures Files DRHP for IPO: A Look at the Production House's Public Offering
Sunshine Pictures Limited has filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) in preparation for its proposed initial public offering (IPO).
IPO Details
The company plans to issue up to 8,375,000 equity shares, comprising a fresh issue of up to 5,000,000 equity shares and an offer for sale of up to 3,375,000 equity shares by the Promoter Selling Shareholders, Vipul Shah and Shefali Shah.
Use of Proceeds
Company proposes to utilize the Proceeds from the Fresh Issue towards funding the following objects:
- To meet the Working Capital Requirements;
2. General Corporate Purposes
About Sunshine Pictures
Sunshine Pictures Limited is a production house involved in the creation, development, production, marketing, and distribution of films, TV serials, and web series. They have produced several well-known works in modern Indian cinema, such as ‘Force’, ‘Commando’, ‘Holiday’, ‘Force 2’, ‘Commando 2’, ‘The Kerala Story’, and the web series ‘Human’.
Financials
In FY 23-24, the company's revenue surged to ₹133.80 crores, marking an increase of 404.7% from ₹26.51 crores in FY 22-23. Profit After Tax (PAT) witnessed growth of 2,170.56%, rising to ₹52.45 crores in FY 23-24 compared to ₹2.31 crores in the previous year.
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