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Silverstorm Parks and Resorts has opened its INR 82.43 crore initial public offering (IPO) for public subscription after raising nearly INR 21.97 crore from anchor investors. The Kerala-based leisure and amusement park operator plans to use the proceeds to develop a new snow park and family entertainment centre in Lucknow, upgrade its existing Athirappilly theme park, repay debt and meet general corporate requirements. The company, which operates entertainment destinations in Kerala and Jharkhand, reported strong financial growth in FY26 and is expected to list on the BSE SME platform later this month.
Silverstorm Parks and Resorts has opened its INR 82.43 crore initial public offering (IPO) for public subscription after securing nearly INR 21.97 crore from anchor investors ahead of the issue. The IPO, which opened on Friday, will remain available for subscription until July 28. The company's shares are scheduled to be listed on the BSE SME platform on July 31, subject to the completion of the issue process.
The public issue is priced in the range of INR 123-133 per equity share. Ahead of the IPO launch, the company allotted 16.52 lakh equity shares to 14 anchor investors at INR 133 per share, according to a circular issued by BSE. The allocation raised INR 21.97 crore.
Among the anchor investors were Mauritius-based Radiant Global Fund, SMC India Opportunities Fund and VB Cube Ventures Fund, along with other institutional investors.
The Kerala-based company is issuing up to 61.98 lakh fresh equity shares. Since the IPO consists entirely of a fresh issue, the entire amount raised will go to the company and no existing shareholders are selling their stake through the offer.
Silverstorm Parks and Resorts plans to utilise the net proceeds from the issue for setting up a Snow Park and Family Entertainment Centre (FEC) in Lucknow, expanding and upgrading its existing Athirappilly Theme Park in Kerala, repaying certain borrowings and meeting general corporate expenses.
Managing Director Shalimar A I said the funds raised through the public issue would support the company's expansion plans, help introduce new attractions, strengthen its existing destinations and improve the overall visitor experience.
The company operates integrated leisure and entertainment destinations under the Silver Storm and Snow Storm brands. Its portfolio currently includes amusement and entertainment facilities at Athirappilly in Kerala, a well-known tourism destination, and Jamshedpur in Jharkhand. The company has been focusing on offering a mix of theme park attractions, water rides and indoor snow-based entertainment to cater to family and leisure travellers.
For FY26, Silverstorm Parks and Resorts reported a total income of INR 44.85 crore and a profit after tax of INR 19.10 crore, reflecting healthy earnings ahead of its public market debut.
Vivro Financial Services is the sole book-running lead manager for the IPO.
Source PTI
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