Film producer Vipul Shah's Sunshine Pictures files for IPO to raise funds

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Film producer Vipul Shah's Sunshine Pictures files for IPO to raise funds - Business Standard

Quick Summary:

The IPO comprises a total offer size of 83.75 lakh equity shares including a fresh issue of 50 lakh shares and an Offer-for-Sale (OFS) of 33.75 lakh shares by promoters, according to the draft red herring prospectus (DRHP).

Promoter Vipul Amrutlal Shah is proposing to sell 23.69 lakh shares, while Shefali Vipul Shah plans to offload 10.05 lakh shares.

The company plans to utilize the proceeds from the fresh issue to meet its long-term working capital requirements, allocating up to Rs 94 crore to support future growth and operations, along with other general corporate purposes.