Silverstorm Parks IPO GMP today is TBA. Investors can use this GMP along with price band and subscription status for a better IPO review.
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SME IPO
SPRL
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.
IPO Details
Complete IPO information
| Current GMP | - |
|---|---|
| Estimated Listing Gain | TBA |
| Price Band | ₹123.00 - ₹133.00 |
| Issue Price | ₹133.00 |
| Listing Price | TBA |
| Lot Size | 1,000 Shares |
| Issue Type | SME |
| Issue Size | Approx ₹82.43 Cr |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | 0.34x |
| Listing Date | 31 Jul 2026 |
| Minimum Investment | ₹2,66,000 |
Timeline
IPO roadmap at a glance
01
Bidding Opens
24 Jul 2026
02
Bidding Closes
28 Jul 2026
03
Allotment
29 Jul 2026
04
Listing
31 Jul 2026
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,000 | ₹2,66,000 |
| Retail Maximum | 2 Lot | 2,000 | ₹2,66,000 |
| S-HNI Minimum | 3 Lot | 3,000 | ₹3,99,000 |
| S-HNI Maximum | 7 Lot | 7,000 | ₹9,31,000 |
| B-HNI Minimum | 8 Lot | 8,000 | ₹10,64,000 |
Issue Notes
Important takeaways before applying
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.
Analysis
Silverstorm Parks & Resorts IPO Details
Silverstorm Parks & Resorts Limited is launching its Initial Public Offering (IPO) through the Book Building Issue process. The IPO consists entirely of a Fresh Issue, which means the company will receive the complete proceeds from the public offering. The funds raised are expected to support the company's expansion plans, operational requirements, and other corporate objectives as stated in the offer documents.
The equity shares of Silverstorm Parks & Resorts Limited are proposed to be listed on the BSE SME platform. Investors can submit bids within the specified price band during the subscription period.
| Particular | Details |
|---|---|
| IPO Open Date | July 24, 2026 |
| IPO Close Date | July 28, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹123 to ₹133 Per Share |
| Issue Size | Approx ₹82.43 Crores |
| Fresh Issue | Approx ₹82.43 Crores |
| Issue Type | Book Building Issue |
| IPO Listing | BSE SME |
Analysis
Silverstorm Parks & Resorts IPO Reservation
Silverstorm Parks & Resorts Limited has allocated the IPO shares among various investor categories in accordance with the SEBI regulations applicable to book-built public issues. The issue is reserved for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs), providing balanced participation across different classes of investors.
The anchor investor allocation, if any, will be completed before the IPO opens for subscription. After the anchor placement, the remaining shares will be allocated to eligible investor categories as per the prescribed reservation percentages.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The exact number of shares reserved for each category will be announced after the completion of the anchor investor allocation and as disclosed in the final IPO documents.
Analysis
Silverstorm Parks & Resorts IPO Anchor Investors
The Anchor Investor bidding for the Silverstorm Parks & Resorts IPO is scheduled for July 23, 2026, one business day before the public subscription begins. The anchor portion is reserved for eligible Qualified Institutional Buyers (QIBs) and is intended to bring institutional participation and confidence to the public issue.
The final list of anchor investors, total shares allotted, and the value of the anchor investment will be announced after the completion of the anchor allocation process. These details are generally published before the IPO opens for public bidding.
| Particular | Details |
|---|---|
| Anchor Bidding Date | July 23, 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date (50% Shares – 30 Days) | 2026 |
| Lock-in Period End Date (Remaining 50% Shares – 90 Days) | 2026 |
Note: The exact anchor allocation, investor names, number of shares allotted, investment amount, and lock-in expiry dates will be updated after the completion of the anchor book allocation.
Analysis
Silverstorm Parks & Resorts IPO Dates
The Silverstorm Parks & Resorts IPO will open for public subscription on July 24, 2026 and will remain open until July 28, 2026. During this period, eligible investors can place bids within the notified price band through the ASBA facility or UPI-supported application process.
The company is expected to finalize the basis of allotment on July 29, 2026. Refunds for unsuccessful applicants and credit of allotted equity shares to successful investors' demat accounts are scheduled for July 30, 2026. The shares of Silverstorm Parks & Resorts Limited are proposed to be listed on the BSE SME platform on July 31, 2026.
| Event | Date |
|---|---|
| IPO Open Date | July 24, 2026 |
| IPO Close Date | July 28, 2026 |
| Basis of Allotment | July 29, 2026 |
| Refunds Initiation | July 30, 2026 |
| Credit to Demat Account | July 30, 2026 |
| IPO Listing Date | July 31, 2026 |
Analysis
Silverstorm Parks & Resorts IPO Promoters and Holding Pattern
Silverstorm Parks & Resorts Limited is promoted by Puthiyaveettil Kuvaka Kunhimon Mohamed Abdul Jaleel and Shalimar Antharathara Ibrahim. The promoters have played a key role in establishing the company's presence in the hospitality and resort industry and continue to guide its long-term business strategy and expansion plans.
Following the completion of the IPO, the promoters will continue to retain a significant stake in the company. Although their shareholding percentage will reduce due to the fresh issue of equity shares, they are expected to remain the controlling shareholders, demonstrating their continued commitment to the company's future growth.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 1,64,78,736 | 70.15% |
| Promoter Holding Post Issue | 2,26,76,736 | 50.98% |
Note: The post-issue promoter holding is based on the proposed IPO structure. The promoters are expected to continue as the majority stakeholders and remain actively involved in the management and strategic direction of Silverstorm Parks & Resorts Limited.
Analysis
Silverstorm Parks & Resorts IPO Objects of the Issue & Utilisation of Proceeds
The proceeds from the Silverstorm Parks & Resorts IPO will primarily be utilized to expand the company's entertainment and hospitality business through the development of new projects, modernization of existing facilities, and repayment of certain outstanding borrowings. These initiatives are expected to strengthen the company's operational capabilities and support its long-term growth strategy.
A significant portion of the fresh issue proceeds will be invested in establishing a new Snow Park and Family Entertainment Centre (FEC) in Lucknow, upgrading the existing Athirappilly Theme Park in Kerala, reducing debt obligations, and meeting general corporate requirements.
| Purpose | Amount |
|---|---|
| Funding capital expenditure for setting up the Lucknow Snow Park and Family Entertainment Centre (FEC) | ₹26.12 Crores |
| Funding capital expenditure for expansion and upgradation of the existing Athirappilly Theme Park, Kerala | ₹15.14 Crores |
| Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company | ₹24.00 Crores |
| General Corporate Purpose | ₹- |
Note: The company intends to utilize the IPO proceeds to enhance its infrastructure, strengthen its financial position by reducing debt, and support future business expansion while meeting general corporate requirements.
Analysis
Silverstorm Parks & Resorts - About IPO
To be updated soon
Analysis
Silverstorm Parks & Resorts IPO Company Financial Report
Silverstorm Parks & Resorts Limited is entering the capital market through its Initial Public Offering (IPO) to raise funds for business expansion, development of new entertainment destinations, modernization of existing facilities, and repayment of certain borrowings. The company operates in the leisure, hospitality, and theme park segment and aims to strengthen its presence through strategic investments in tourism and recreational infrastructure.
With the proposed expansion projects and infrastructure upgrades, the company seeks to enhance visitor experiences, improve operational efficiency, and support long-term business growth. Additional details regarding the company's operations, business model, and future plans are expected to be available in the final Red Herring Prospectus (RHP).
Silverstorm Parks & Resorts Limited has reported strong financial growth over the past three financial years. The company has demonstrated consistent improvement in revenue, profitability, and asset base, reflecting increasing business scale and improved operating performance.
The following table summarizes the company's latest audited financial performance, including revenue, expenses, profit after tax (PAT), and total assets.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹19.11 | ₹16.75 | ₹0.97 | ₹112.02 |
| 2025 | ₹31.64 | ₹18.10 | ₹9.71 | ₹151.60 |
| 2026 | ₹44.85 | ₹18.25 | ₹19.10 | ₹214.09 |
Amount in ₹ Crores: The above financial information is based on the latest audited financial statements of Silverstorm Parks & Resorts Limited and is intended to provide investors with an overview of the company's financial performance before the IPO.
Analysis
Silverstorm Parks & Resorts IPO Valuation – FY2026
The valuation metrics of Silverstorm Parks & Resorts Limited provide investors with an overview of the company's financial efficiency, profitability, and net worth before the IPO. Indicators such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, Return on Net Worth (RoNW), and Net Asset Value (NAV) are useful in evaluating the company's operational performance and overall financial health.
Investors should compare these valuation parameters with the IPO price band, industry peers, business fundamentals, and future expansion plans before making an investment decision.
| KPI | Values |
|---|---|
| ROE | 30.98% |
| ROCE | 25.22% |
| EBITDA Margin | 67.37% |
| PAT Margin | 42.59% |
| Debt to Equity Ratio | 0.89 |
| Earning Per Share (EPS) | ₹12.59 (Basic) |
| Price/Earning (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 30.98% |
| Net Asset Value (NAV) | ₹44.20 |
Note: The above valuation figures are based on the FY2026 audited financial statements of Silverstorm Parks & Resorts Limited. Investors should review these metrics together with the IPO pricing, peer comparison, risk factors, and business outlook before investing.
Analysis
Silverstorm Parks & Resorts IPO Peer Group Comparison
Silverstorm Parks & Resorts Limited operates in the leisure, hospitality, and theme park industry. Comparing its financial performance with listed companies in the same sector helps investors understand the company's valuation, profitability, and operating efficiency before investing in the IPO.
The following peer comparison highlights key financial indicators such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and revenue of comparable listed companies operating in the entertainment and amusement park industry.
| Company | EPS | P/E Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Wonderla Holidays Limited | 12.89 | 36.65 | 4.64% | 283.20 | 518.77 Cr. |
| Imagicaaworld Entertainment Limited | 0.01 | 4,701.00 | 0.05% | 22.16 | 373.85 Cr. |
| Nicco Parks & Resorts Limited | (0.58) | NA | 10.74% | 22.35 | 66.35 Cr. |
Note: The peer comparison is provided for informational purposes only. Investors should evaluate Silverstorm Parks & Resorts Limited's financial performance, business model, growth prospects, industry outlook, and IPO valuation alongside these peer metrics before making an investment decision.
Analysis
IPO Lead Managers aka Merchant Bankers
- Vivro Financial Services Pvt. Ltd.
FAQ
Silverstorm Parks IPO FAQs
Silverstorm Parks IPO price band is Rs 123.00 to Rs 133.00. Check the latest issue price, lot size and GMP together before applying.
Silverstorm Parks IPO open date is 24 Jul 2026, close date is 28 Jul 2026, and listing date is 31 Jul 2026.
Silverstorm Parks IPO lot size is 1,000 shares. The minimum retail investment is Rs 2,66,000.
Silverstorm Parks is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Silverstorm Parks IPO subscription status currently shows Retail 0.5x, QIB 0x, Overall 0.34x.
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.
Silverstorm Parks IPO issue size is 82.43 and the expected allotment date is 29 Jul 2026.