Sunshine Pictures IPO subscribed 4.33x as retail and non-institutionals led
Business
Sunshine Pictures's IPO opened with a bang: subscriptions hit 4.33 times on the very first day.
Retail investors bid nearly six times more shares than were available, while non-institutional investors led the response overall, especially in the smaller ticket sizes.
Institutional buyers under-subscribe, mutual funds skip
Institutional buyers barely showed up, subscribing just a fraction of their quota, and mutual funds skipped it altogether.
Shares are priced between ₹342 and ₹360, and most of the money raised will go toward keeping Sunshine's daily operations running smoothly.
The IPO stays open until Thursday if you're thinking of jumping in.