Sunshine Pictures plans IPO to raise up to Rs 500 crore

Mumbai: Sunshine Pictures, the production house owned by filmmaker Vipul Amrutlal Shah, plans to raise funds through an initial public offering (IPO) as film production houses navigate a tough funding environment, according to the prominent film producer. The company is expected to file a draft red herring prospectus (DRHP) for the IPO soon.

According to sources, Sunshine Pictures, which was incorporated in 2007, is likely to raise close to ₹500 crore through a combination of fresh issue and offer-for-sale.

“The whole perception towards the film industry has changed over the years. Corporate investments in the Indian film industry are rising and international companies are also coming in. We think the time has come for our company to scale up. This is the reason why we want to tap into the IPO market,” said Shah.

In the past two years, the Hindi film industry has been going through a difficult phase, with an increasing number of films failing at the box office and OTT players tightening their purses, putting additional pressure on production companies.

“We have been following a production model which has been rewarding to all the parties involved in our film project. We do a lot of de-risking of our film projects. In this way, we have made our partnerships long term,” said Shah. “We have partners on our film projects. If the capital is high, then we work with studios. Then, we have film projects where we invest and own everything. This is how we have been operating,” he said.

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