# Sunshine Pictures lists at 10% premium, falls on weak debut 2026-08-25T05:39:19+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 2 independent outlets (3 source reports) Sunshine Pictures, promoted by film producer Vipul Amrutlal Shah, listed on the NSE at Rs 396, a 10% premium over its IPO price of Rs 360, but fell to trade at Rs 382 by mid-morning, ndtvprofit and Hindu Business Line report. The Rs 282-crore IPO received 105.81 times subscription, driven by 197 times demand from non-institutional investors. Shankesh Jewellers also made a modest debut at Rs 103.30, an 11% premium, then dipped. Its Rs 367-crore IPO was subscribed 2.80 times. Analysts cautioned against chasing the stocks post-listing. Swastika Investmart noted Sunshine Pictures' FY26 EBITDA margin at 78.65% and RoE of 32%, but flagged need for consistent revenue growth. For Shankesh, analysts flagged working-capital intensity and debt-to-equity of 0.8x. Both companies plan to use IPO proceeds for working capital and general corporate purposes. Investors will track quarterly earnings for margin sustainability. ## Indian Opinion Analysis All three reports from ndtvprofit and Hindu Business Line are straight news agency-style coverage with no discernible slant. The listing premiums and subsequent dips are reported without favouring the company or regulators. The analysis from Swastika Investmart and Master Capital is presented as investor guidance, not as criticism. The uniform, data-heavy reporting leaves no stance to compare, the key takeaway is that strong IPO subscription (105x for Sunshine) did not translate into sustained listing gains. Investors will watch the next quarterly results for revenue visibility and margin sustainability. ## Coverage Coverage: 3 sources, 3 neutral - ndtvprofit.com (neutral report) Straight factual IPO listing report with analyst quotes, no slant - ndtvprofit.com (2) (neutral report) GMP-focused pre-listing calculation presented without editorialising - thehindubusinessline.com (neutral report) Plain listing report with two analysts' cautionary views This story was synthesised by AI from the 3 sources linked above. Updated: this story now draws on 3 sources. Last updated 2026-08-25T09:01:58+00:00. Tags: grey market premium, IPO, NSE, Sunshine Pictures, Vipul Amrutlal Shah Canonical: https://indianopinion.org/sunshine-pictures-lists-at-10-premium-at-rs-396-on-nse/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/sunshine-pictures-lists-at-10-premium-at-rs-396-on-nse/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/