Sunshine Pictures IPO Day 2 Subscription Status: 18.47x Subscribed; GMP at ₹78
Sunshine Pictures IPO reached about 18.47x subscription on Day 2, led by Non-Institutional Investors (NIIs) at 35.59x and retail investors at 21.61x. Qualified Institutional Buyers (QIBs) were at 0.14x. The Grey Market Premium (GMP) was around ₹78 in the evening on 19 August 2026. The ₹282.14 crore issue remains open and closes on 20 August 2026.
| Metric | Latest update |
| Bidding day | Day 2 |
| Data status | Early evening (5:00 p.m. to 6:30 p.m. IST) on 19 August 2026 |
| Overall subscription | 18.47x |
| QIB | 0.14x |
| NII | 35.59x |
| Retail | 21.61x |
| Current GMP | ₹78 |
| GMP percentage | 21.7% |
| Indicative price | ₹438 |
| Closing date | 20 August 2026 |
Sunshine Pictures IPO Day 2 Subscription Status
Demand accelerated substantially during the second bidding day. The NII category recorded the highest subscription multiple, while retail demand also stayed well above the shares reserved for that segment.
| Investor category | Day 2 | Day 1 close | Change |
| Qualified Institutional Buyers | 0.14x | 0.03x | +0.11x |
| Non-Institutional Investors | 35.59x | 6.23x | +29.36x |
| Retail Individual Investors | 21.61x | 5.99x | +15.62x |
| Overall | 18.47x | 4.34x | +14.13x |
NIIs were the main driver of the Day 2 increase, with their subscription rising by more than 29 times the shares reserved compared with the Day 1 closing level. Retail participation also strengthened sharply.
QIB participation remained much lower in comparison. Institutional bidding often develops later in an IPO, particularly closer to the final day, but the current figures do not establish how QIB demand will finish.
Subscription multiples represent the quantity of shares bid for relative to the shares available in each category. They should not be interpreted as the number of unique applicants.
How Subscription Changed From Day 1
Sunshine Pictures IPO moved from 4.34x at the end of Day 1 to about 18.47x on Day 2, an increase of 14.13 times.
The clearest change came from NIIs, whose subscription rose from 6.23x to 35.59x. Retail demand increased from 5.99x to 21.61x. This means the expansion in bidding was not limited to one category, although NII participation remained the strongest contributor.
QIB demand increased only modestly, from 0.03x to 0.14x. Closing Day will therefore provide a clearer picture of whether institutional participation broadens the demand profile.
Sunshine Pictures IPO GMP Today and Estimated Listing Price
Sunshine Pictures IPO GMP was around ₹78 per share in the evening (6:30 p.m. to 8:30 p.m. IST) on 19 August 2026. Another available tracker was showing ₹77, so a minor variation was present across grey-market sources.
The latest ₹78 reading was slightly above the previous available level of about ₹77.
| GMP metric | Value |
| Upper price band | ₹360 |
| Latest GMP | ₹78 |
| Previous available GMP | ₹77 |
| GMP movement | Up ₹1 |
| GMP percentage | 21.7% |
| Indicative price | ₹438 |
The indicative price is calculated as ₹360 + ₹78 = ₹438. The GMP percentage works out to about 21.7% of the upper price band.
GMP is an unofficial, unregulated market indicator. It can change quickly before listing and does not guarantee that Sunshine Pictures shares will list at ₹438 or deliver a 21.7% gain.
What Stands Out in Today’s Bidding
Two signals stand out on Day 2. First, overall subscription increased more than fourfold from the Day 1 close, mainly because of higher NII and retail bids. Second, GMP remained around the ₹77 to ₹78 range while subscription accelerated, indicating that the grey-market signal did not rise at the same pace as bidding demand.
There are also limitations. QIB participation remained comparatively low, leaving the final institutional demand unresolved. More importantly, a high subscription multiple does not establish whether the IPO valuation is fair, whether the underlying business is high quality, or whether the shares will generate positive returns after listing.
IPO Details Retail Investors Need
| IPO detail | Information |
| Price band | ₹342 to ₹360 per share |
| Lot size | 41 shares |
| Minimum retail investment | ₹14,760 at upper band |
| Issue size | About ₹282.14 crore |
| Fresh issue | About ₹172.80 crore |
| Offer for Sale (OFS) | About ₹109.34 crore |
| Issue type | Book-built mainboard IPO |
| Closing date | 20 August 2026 |
| Expected listing date | 25 August 2026 |
| Exchanges | NSE and BSE |
The minimum investment is based on one lot of 41 shares at the upper price of ₹360.
Brief Company and Financial Context
Sunshine Pictures is a film and entertainment content production company involved in developing, producing, marketing, and distributing films, television programmes, and web series. Revenue from operations is closely linked to content production, distribution rights, and relationships with studios and distributors.
For FY2026, the company reported revenue of about ₹76.27 crore and profit after tax of about ₹40.02 crore. Revenue declined from the preceding year, while profit increased. Sunshine Pictures plans to use up to ₹112.50 crore from the fresh issue for working-capital requirements, with the balance for general corporate purposes. A key risk is the unpredictable commercial performance of content and the company’s concentration of revenue among major customers.
What Happens Next
Sunshine Pictures IPO enters its Closing Day on 20 August 2026. Investors tracking the issue can watch whether QIB participation increases, whether NII and retail demand continues to build, and whether the GMP holds near its current level or moves materially before bidding closes.
Frequently Asked Questions (FAQs)
Q: How many times was Sunshine Pictures IPO subscribed on Day 2?
A: Sunshine Pictures IPO was subscribed about 18.47x overall on Day 2, based on exchange-sourced data in the early evening on 19 August 2026. NIIs led at 35.59x, followed by retail investors at 21.61x, while QIB subscription stood at 0.14x.
Q: How did Sunshine Pictures IPO demand change from Day 1 to Day 2?
A: Overall subscription increased from about 4.34x at the Day 1 close to 18.47x on Day 2. The largest increase came from NIIs, while retail subscription also rose sharply.
Q: What is Sunshine Pictures IPO GMP today?
A: Sunshine Pictures IPO GMP was around ₹78 per share in the evening on 19 August 2026, although another tracker showed ₹77. GMP is unofficial, unregulated, and can change before listing.
Q: What listing price does the current Sunshine Pictures IPO GMP indicate?
A: At the upper issue price of ₹360 and a GMP of ₹78, the indicative price is about ₹438 per share, representing a 21.7% premium. This is only a grey-market indication and not a guaranteed listing price.
Q: Does a high Sunshine Pictures IPO subscription guarantee a premium listing?
A: No. High subscription shows that bids exceed the shares available, but it does not guarantee a premium listing. Actual listing performance depends on factors including market conditions, investor sentiment, valuation, company fundamentals, and demand on listing day.
Disclaimer
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