Sunshine Pictures IPO Day 3 Final Subscription Status: 105.81x Subscribed; GMP at ₹77
Sunshine Pictures IPO Day 3 Final Subscription Status closed at 105.81x overall on 20 August 2026, with Non-Institutional Investors (NIIs) leading at 197.04x. Qualified Institutional Buyers (QIBs) finished at 123.52x, while retail demand reached 56.60x. The Grey Market Premium (GMP) was around ₹77 in the early evening on 20 August 2026. The IPO is now closed, with allotment expected on 21 August 2026.
| Metric | Final update |
| Bidding day | Day 3 Final |
| Data status | Final, after bidding closed on 20 August 2026 |
| Overall subscription | 105.81x |
| QIB subscription | 123.52x |
| NII subscription | 197.04x |
| Retail subscription | 56.60x |
| Latest GMP | ₹77 |
| GMP percentage | 21.4% |
| Indicative price | ₹437 |
| Closing date | 20 August 2026 |
Sunshine Pictures IPO Day 3 Final Subscription Status
Sunshine Pictures received bids for about 105.81 times the shares available to the public by the end of the three-day bidding period.
| Investor category | Final subscription |
| Qualified Institutional Buyers | 123.52x |
| Non-Institutional Investors | 197.04x |
| Retail Individual Investors | 56.60x |
| Overall | 105.81x |
NIIs recorded the highest multiple at 197.04x. QIB participation, which had remained limited through Day 2, increased sharply on the final day and finished at 123.52x. Retail investors also showed substantial demand at 56.60x.
The category figures indicate that final demand was broad rather than dependent on a single investor segment, although NIIs recorded the highest subscription multiple.
Subscription multiples represent the quantity of shares bid for relative to shares reserved in each category. They do not represent the number of unique applicants, and category reservation sizes should be considered when comparing multiples.
Final Day-wise Subscription Trend
The strongest acceleration came on Closing Day, when overall subscription increased from 18.47x at the Day 2 close to 105.81x after bidding ended.
| Bidding stage | Overall subscription | Leading category |
| Day 1 close | 4.34x | NII, 6.23x |
| Day 2 close | 18.47x | NII, 35.59x |
| Day 3 Final | 105.81x | NII, 197.04x |
Demand had already strengthened between Day 1 and Day 2, but the final session changed the category mix significantly. QIB subscription rose from just 0.14x on Day 2 to 123.52x at the close, making institutional bidding an important part of the final result.
Retail demand also increased from 21.61x on Day 2 to 56.60x at the close. The final figures therefore show participation across QIB, NII, and retail categories.
Sunshine Pictures IPO GMP Today and Estimated Listing Price
Sunshine Pictures IPO GMP was around ₹77 per share in the early evening (5:00 p.m. to 6:30 p.m. IST) on 20 August 2026, compared with an available reading of about ₹78 previously.
| GMP metric | Value |
| Current GMP | ₹77 |
| Previous available reading | ₹78 |
| Movement | Down ₹1 |
| Upper price band | ₹360 |
| GMP percentage | 21.4% |
| Indicative price | ₹437 |
At the ₹360 upper price band, the calculation is ₹360 + ₹77 = ₹437. The GMP represents about 21.4% of the upper issue price.
The small decline in GMP contrasts with the sharp jump in final subscription. That divergence is worth noting because bidding demand and grey-market activity measure different things.
GMP is unofficial, unregulated, and can change quickly before listing. It does not guarantee a ₹437 listing price or any listing gain.
What Stands Out in Today’s Bidding
Two developments are particularly notable. First, QIB demand changed sharply on the final day, turning what had been a retail and NII-led book into a more broadly subscribed issue. Second, NIIs remained the strongest category even after institutional bids increased.
There are also important limitations. A 105.81x overall subscription does not establish that the IPO is fairly valued or that Sunshine Pictures will deliver strong long-term returns. Similarly, the ₹77 GMP is an informal market signal, not an exchange-traded price.
The slight GMP decline despite much higher subscription is a reminder that strong bidding does not automatically translate into a higher grey-market premium.
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 | ₹282.14 crore |
| Fresh issue | ₹172.80 crore |
| Offer for Sale (OFS) | ₹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 retail application was one lot of 41 shares, requiring ₹14,760 at the upper price of ₹360.
Brief Company and Financial Context
Sunshine Pictures develops, produces, markets, and distributes films, television programmes, and web series, with revenue linked to content production and rights monetisation. In FY2026, total revenue declined to about ₹76.27 crore from ₹105.80 crore in FY2025, while profit after tax increased to about ₹40.02 crore from ₹34.46 crore.
The company plans to use ₹112.50 crore of net fresh-issue proceeds for working-capital requirements, with the balance available for general corporate purposes. A key consideration is the project-driven nature of entertainment earnings, where audience reception, release timing, and content performance can make revenue uneven.
What Happens Next
With bidding closed, Sunshine Pictures is expected to finalise the basis of allotment on 21 August 2026. Refund initiation and share credit are scheduled for 24 August 2026, followed by the tentative NSE and BSE listing on 25 August 2026. The GMP may continue to change between the close of the IPO and listing.
Frequently Asked Questions (FAQs)
Q: How many times was Sunshine Pictures IPO subscribed on Day 3 Final?
A: Sunshine Pictures IPO closed at 105.81x overall subscription on Day 3. NIIs led at 197.04x, QIBs finished at 123.52x, and the retail category was subscribed 56.60x, based on final post-close exchange data.
Q: What is Sunshine Pictures IPO GMP today?
A: Sunshine Pictures IPO GMP was around ₹77 per share in the early evening on 20 August 2026. The GMP is unofficial and unregulated, and it can rise or fall before the shares list.
Q: What listing price does the current Sunshine Pictures IPO GMP indicate?
A: With an upper issue price of ₹360 and GMP of ₹77, the indicative price works out to about ₹437 per share. This represents an indicative premium of roughly 21.4%, but it is not a guaranteed listing price.
Q: Does 105.81x subscription guarantee a premium listing for Sunshine Pictures?
A: No. High subscription shows strong bidding relative to the shares available, but it does not guarantee a premium listing. Listing performance can also depend on market conditions, valuation, company fundamentals, investor sentiment, and demand when trading begins.
Q: When is Sunshine Pictures IPO allotment expected?
A: The basis of allotment is expected on 21 August 2026. Refund initiation and share credit are scheduled for 24 August, while Sunshine Pictures shares are tentatively expected to list on NSE and BSE on 25 August 2026.
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