Silverstorm Parks IPO
Price band
₹123 – ₹133
Lot size
1000 shares
Min investment
₹1,33,000
Issue size
₹82.43 Cr
IPO schedule
| Open date | 24 Jul 2026 |
| Close date | 28 Jul 2026 |
| UPI mandate cut-off | 28 Jul 2026 |
| Allotment finalisation | 29 Jul 2026 |
| Refund initiation | 30 Jul 2026 |
| Shares credited to demat | 30 Jul 2026 |
| Listing date | 31 Jul 2026 |
| Mandate end date | 12 Aug 2026 |
| Anchor lock-in (50%) | 28 Aug 2026 |
| Anchor lock-in (remaining) | 27 Oct 2026 |
Issue size
About Silverstorm Parks
Silverstorm Parks and Resorts Limited, incorporated in 1998, operates an amusement-cum-water theme park, indoor snow parks, and related resort facilities. The company’s primary operational hub is the Athirappilly Theme Park in Kerala, which features high-thrill rides, water attractions, an indoor snow park, and resort accommodation. It generates revenue primarily through entry ticket sales, along with supplementary revenue streams from food and beverage services, photography, merchandise, and retail sales. SPRL is expanding its footprint with projects such as an ongoing 1.2 km ropeway cable car project at Athirappilly and a new snow park facility in Lucknow, Uttar Pradesh, while maintaining existing operations in Jharkhand. Operating on a capital-intensive model, the business caters significantly to family visitors, school groups, and corporate outings.
Strengths
- SPRL operates a 17.38-acre flagship park at Athirappilly featuring 41 rides, an indoor snow park, three restaurants, and resort accommodation.
- The company generates revenue from multiple streams, including entrance tickets, food and beverages, resort stays, photography, and merchandise sales.
- SPRL maintains a dedicated in-house technical team of 123 personnel to handle daily ride maintenance, safety checks, and operations.
- The company is expanding its indoor snow park footprint under the Snow Storm brand across Athirappilly, Jamshedpur, and Lucknow.
- The flagship theme park is strategically positioned near Athirappilly Waterfalls to capitalise on regional tourist footfalls.
Risks
- SPRL historically derives almost all of its operational revenue from a single property, the Athirappilly Theme Park.
- The company does not maintain annual maintenance contracts for most of its rides, machinery, and equipment.
- The business is highly seasonal, with quarterly fluctuations in visitor footfall and revenue.
- SPRL has reported negative net cash flows from investing activities across past fiscal years.
- The company has experienced past regulatory non-compliances and has untraceable corporate records for historical share allotments.
Use of proceeds
| Repayment of borrowings | ₹24 (29.12%) Cr |
| General corporate purposes | ₹17.17 (20.82%) Cr |
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