Silverstorm Parks and Resorts to raise ₹82 cr via IPO on BSE SME platform

Silverstorm Parks and Resorts, an integrated amusement destination, plans to raise ₹82 crore through initial public offering (IPO) on BSE SME platform.

The company will issue 61.98 lakh equity shares in the price band of ₹123-₹133 a share. Investors have to bid for a minimum of 2,000 equity shares and in multiples of 1,000 shares thereafter.

The anchor bidding will open on Thursday (July 23) while the issue will open for subscription on Friday (July 24) and the shares will get listed next Friday (July 31).

The net proceeds from the IPO will be used for setting up Lucknow Snow Park and a FEC (family entertainment centre), funding expansion and upgradation of existing Athirappilly Theme Park in Kerala besides repayment of debt and general corporate purposes.

Vivro Financial Services has been appointed as the Book Running Lead Manager to the issue while MUFG Intime India will be the registrar to the issue.

Shalimar AI, Managing Director, Silverstorm Parks and Resorts, said the company has developed integrated leisure and entertainment destination at Athirappilly and expanded operations to Jamshedpur over the last two-and-a-half decades.

“As we embark on our IPO journey, we are not just raising capital but laying the foundation for our next chapter of growth. The proceeds from the issue will help us expand footprint, introduce new attractions, enhance existing destinations and create pleasant experiences for our guests,” he added.

Roshan Vaishnav, Director, Vivro Financial Services, said Silverstorm Parks and Resorts has demonstrated a consistent commitment to operational excellence and sustainable growth. The proposed IPO will support the company’s expansion initiatives and strengthen its market position, he added.