Industries Gear Up for IPO Launches: Sunshine Pictures, Lumino, M&B Engineering Lead the Charge

Sunshine Pictures, Lumino Industries, and M&B Engineering have secured approval from Securities and Exchange Board of India (Sebi) to proceed with their initial public offerings (IPOs), promising significant financial mobilization.

Sunshine Pictures, backed by acclaimed producer Vipul Shah, plans to release 83.75 lakh equity shares in its IPO. The offer includes a fresh issue of 50 lakh shares and an Offer-for-Sale (OFS) of 33.75 lakh shares. Proceeds from Sunshine's IPO will fund long-term capital needs, allotting up to Rs 94 crore for expansions and operations.

Meanwhile, Lumino Industries and M&B Engineering have outlined ambitious financial plans. Lumino aims for a Rs 1,000 crore IPO split between fresh issues and promoter sales, while M&B Engineering proposes a Rs 653 crore target to support its Pre-Engineered Buildings ventures. These funds are directed towards reducing debt, purchasing new equipment, and enhancing working capital.

(With inputs from agencies.)