Silverstorm Parks collects nearly ₹22 crore from anchor investors; SME IPO opens for subscription

Silverstorm Parks and Resorts, an integrated amusement destination, has raised nearly ₹22 crore from anchor investors as its ₹82.4 crore Initial Public Offering (IPO) opened for public subscription on Friday.

The BSE SME public issue, priced in the range of ₹123-133 per share, and will conclude on July 28.

According to a circular uploaded on the BSE website on Thursday, Silverstorm allotted 16.52 lakh equity shares to 14 entities, including Mauritius-based Radiant Global Fund, SMC India Opportunities Fund, and VB Cube Ventures Fund, at an anchor investor price of ₹133 apiece, aggregating ₹21.97 crore.

The Kerala-based company's IPO is entirely a fresh issue of up to 61.98 lakh equity shares. At the upper end of the price band, the company is going to fetch ₹82.43 crore from the public issue.

The net proceeds from the IPO will be utilised to set up a Lucknow Snow Park and FEC, expansion and upgradation of existing Athirappilly Theme Park, Kerala, repayment of debt and general corporate purposes.

"The proceeds from the issue will help us expand our footprint, introduce new attractions, enhance our existing destinations, and create pleasant experiences for our guests," said Shalimar A I, MD of Silverstorm Parks and Resorts Ltd.

Silverstorm Parks and Resorts operates integrated leisure and entertainment destinations under the "Silver Storm" and "Snow Storm" brands at Athirappilly, Kerala, and Jamshedpur, Jharkhand.

In FY26, the company reported a total income of ₹44.85 crore and profit after tax of ₹19.10 crore.

Silverstorm Parks & Resorts' shares will be listed on the BSE SME with a tentative listing date fixed on July 31.

Vivro Financial Services is the sole book- running lead manager for the IPO.