Silverstorm Parks & Resorts IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 1.81x |
| NII | 3.19x |
| sNII (₹2L–₹10L) | 2.12x |
| bNII (above ₹10L) | 3.72x |
| Retail (RII) | 1.41x |
| Total | 1.91x |
Bidding day 5 · final figures at close of bidding: 3 Aug 2026, 6:30 pm IST
IPO Details
- Open Date
- 24 Jul 2026
- Close Date
- 28 Jul 2026
- Listing Date
- 31 Jul 2026
- Face Value
- ₹10
- Fresh Issue
- ₹78.3 Cr
- OFS
- ₹0 Cr
- Listing On
- BSE
- Registrar
- —
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,66,000 |
| HNI (Min) | 3 | 3,000 | ₹3,99,000 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 16,52,000 | 28.06% |
| QIB (ex-anchor) | 12,85,000 | 21.83% |
| NII | 8,88,000 | 15.08% |
| — sNII (< ₹10L) | 2,97,000 | 5.05% |
| — bNII (> ₹10L) | 5,91,000 | 10.04% |
| Retail | 20,62,000 | 35.03% |
| Total | 58,87,000 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 19.11 | 0.97 | 6.52 | 23.26 | 112.02 | 28.36 | — |
| FY 2025 | 31.64 | 9.71 | 16.56 | 50.47 | 151.6 | 29.95 | — |
| FY 2026 | 44.85 | 19.1 | 29.36 | 72.84 | 214.09 | 65.07 | 11.59 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 11.48x
- P/E (post-issue)
- 15.8x
- RoNW
- 30.98%
- RoE
- 30.98%
- RoCE
- 25.22%
- Debt / Equity
- 0.89
- EPS (pre-issue)
- ₹11.59
- EPS (post-issue)
- ₹8.42
- EBITDA Margin
- 67.37%
- PAT Margin
- 42.59%
- P/BV
- 3.01x
- NAV / share
- ₹44.2
- Market Cap
- ₹301.6 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Funding capital expenditure in relation to setting up Lucknow Snow Park and FEC | ₹26.12 Cr |
| Funding capital expenditure in relation to the expansion and upgradation of the existing Athirappilly Theme Park, Kerala | ₹15.14 Cr |
| Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company | ₹24 Cr |
| General Corporate Purposes | ₹8.75 Cr |
| Issue Expenses | ₹8.43 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Fees payable to BRLM and commission (including selling commission, brokerage, and underwriting commission, as applicable) | ₹5.76 Cr |
| Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Issue and bidding/uploading charges for members of the Syndicate, Registered Brokers, RTAs and CDPs | ₹0.01 Cr |
| Fees payable to the Registrar to the Issue | ₹0.01 Cr |
| Listing fees, SEBI filing fees, BSE processing fees and other regulatory expenses | ₹0.16 Cr |
| Printing and stationery expenses | ₹0.02 Cr |
| Advertising and marketing expenses | ₹0.22 Cr |
| Fees payable to legal counsel | ₹0.14 Cr |
| Miscellaneous (including fees payable to statutory auditors, consultants, monitoring agency, practicing company secretary, market research firms, stamp duty charges, and other IPO related expenses) | ₹2.11 Cr |
Promoters & Shareholding
Promoters: <p>Puthiyaveettil Kuvaka Kunhimon Mohamed Abdul Jaleel, Shalimar Antharathara Ibrahim</p>
- Holding (pre-issue)
- 70.15%
- Holding (post-issue)
- 50.98%
- Dilution
- 19.17%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| KINGSMAN WEALTH FUND PCC-KIF II | Other | 2,15,000 | ₹133 | 2.86 | 13.01% |
| AARTH AIF GROWTH FUND | Other | 1,51,000 | ₹133 | 2.01 | 9.14% |
| VBCUBE VENTURES FUND | Other | 1,51,000 | ₹133 | 2.01 | 9.14% |
| VBCUBE VENTURES FUND II | Other | 1,51,000 | ₹133 | 2.01 | 9.14% |
| SHINE STAR BUILD-CAP PVT.LTD. | Other | 1,51,000 | ₹133 | 2.01 | 9.14% |
| Ascend Global Opportunities Fund | FII/FPI | 1,51,000 | ₹133 | 2.01 | 9.14% |
| 31 Degrees North Fund I | Other | 1,13,000 | ₹133 | 1.5 | 6.84% |
| 31 DEGREES NORTH FUND | Other | 1,13,000 | ₹133 | 1.5 | 6.84% |
| TIGER STRATEGIES FUND 1 | Other | 76,000 | ₹133 | 1.01 | 4.6% |
| RADIANT GLOBAL FUND-CLASS B PARTICIPATING SHARES | FII/FPI | 76,000 | ₹133 | 1.01 | 4.6% |
| SMC INDIA OPPORTUNITIES FUND | Other | 76,000 | ₹133 | 1.01 | 4.6% |
| STEPTRADE REVOLUTION FUND | Other | 76,000 | ₹133 | 1.01 | 4.6% |
| SB OPPORTUNITIES FUND II | Other | 76,000 | ₹133 | 1.01 | 4.6% |
| CAPRIZE INDIA OPPORTUNITIES FUND INVESTMENT ACCOUNT | Other | 76,000 | ₹133 | 1.01 | 4.6% |
Anchor bidding took place on 23 Jul 2026. Anchor lock-in: 50% of shares unlock on 28 Aug 2026, the remainder on 27 Oct 2026.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Imagicaaworld Entertainment Limited | 0.01 | 22.16 | 4,701x | 0.05% | 2.14x | Consolidated |
| Nicco Parks & Resorts Ltd | -0.58 | 22.35 | — | 10.74% | 3.55x | Consolidated |
| Silver Storm Parks and Resorts Limited | 12.59 | 44.2 | — | 30.98% | — | Standalone |
| Wonderla Holidays Limited | 12.89 | 283.2 | 36.65x | 4.64% | 1.66x | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2025. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Silverstorm Parks & Resorts IPO
The Silverstorm Parks & Resorts SME IPO runs from 24 Jul 2026 to 28 Jul 2026, offered at a price band of ₹123–133 per share, and is set to list on BSE. The company is looking to raise ₹82.43 crore through the offer. Retail investors bid in lots of 1000 shares, a minimum application of ₹2,66,000.
Issue structure
The IPO is structured entirely as a fresh issue of ₹78.3 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding capital expenditure in relation to setting up lucknow snow park and fec (₹26.12 crore), alongside repayment and/or pre-payment, in full or part, of certain borrowings availed by the company (₹24 crore). In all, 5 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Silverstorm Parks & Resorts reported revenue of ₹44.85 crore and a net profit of ₹19.1 crore. Revenue grew from ₹19.11 crore in FY2024 to ₹44.85 crore in FY2026 (+135.0%). Net worth stood at ₹72.84 crore at the end of FY2026. At the upper band, that puts the issue at roughly 11.5× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 15.8× post-issue earnings and 3.01× book value, against a return on net worth of 30.98% and a debt-to-equity ratio of 0.89. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Imagicaaworld Entertainment Limited and Wonderla Holidays Limited, with a median peer P/E of about 2368.8×. The issue's own post-issue P/E works out to 15.8×.
Promoters
The promoters of the company are <p>Puthiyaveettil Kuvaka Kunhimon Mohamed Abdul Jaleel, Shalimar Antharathara Ibrahim</p>. Promoter holding stands at 70.15% before the issue and comes down to 50.98% after listing.
Grey market premium (GMP)
In the unofficial grey market, Silverstorm Parks & Resorts shares are quoted at a premium of ₹0 implying an expected listing around ₹133, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Silverstorm Parks & Resorts IPO was subscribed 1.91 times overall. The strongest demand came from non-institutional investors (NII) at 3.19 times, with qualified institutional buyers (QIB) at 1.81× and retail investors at 1.41×.
Listing performance
Silverstorm Parks & Resorts listed on 31 Jul 2026 at ₹132.9, a discount of -0.1% over the issue price of ₹133.
What to weigh
When evaluating the Silverstorm Parks & Resorts IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Silverstorm Parks & Resorts
Silverstorm Parks & Resorts Ltd operates amusement parks and resort destinations, offering integrated leisure, entertainment, and hospitality experiences designed for families, tourists, and group visitors seeking recreation and relaxation. The company provides services including theme park attractions, water rides, adventure activities, food and beverage outlets, resort accommodations, event hosting, and customized entertainment experiences for diverse age groups. Silverstorm Parks & Resorts Ltd focuses on safety, innovation, and guest satisfaction, continuously upgrading attractions, enhancing hospitality services, and creating memorable leisure destinations that support tourism growth and long-term visitor engagement. Competitive Strength: India’s first integrated fun destination offering amusement cum water park, snow park, cable car and resort at a strategic tourist location Established track record with over two and a half decades of market presence and brand recognition Strong institutional marketing and regional sales network High safety and hygiene standards Prudent capital allocation and consistent financial performance
Silverstorm Parks & Resorts — Contact Details
- Registered office
- Door No 1/77A, Vettilapara P O,, Chalakudy, Thrissur, Kerala, 680721
- Phone
- 9188905079
- info@silverstorm.in
- Website
- silverstorm.in/
- Registrar (IPO queries)
- silverstormparks.smeipo@in.mpms.mufg.com
Frequently asked questions
- What is the Silverstorm Parks & Resorts IPO price band?
- The Silverstorm Parks & Resorts IPO price band is ₹123 to ₹133 per share, with a lot size of 1000 shares.
- What was the Silverstorm Parks & Resorts IPO GMP before listing?
- The final grey market premium recorded before the Silverstorm Parks & Resorts IPO listed was ₹0. The IPO listed on 31 Jul 2026 at ₹132.9, -0.1% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Silverstorm Parks & Resorts IPO open and close?
- The Silverstorm Parks & Resorts IPO opens on 24 Jul 2026 and closes on 28 Jul 2026.
- When is the Silverstorm Parks & Resorts IPO allotment and listing date?
- Allotment is expected on 29 Jul 2026. The shares are scheduled to list on 31 Jul 2026 on BSE.
- How many times was the Silverstorm Parks & Resorts IPO subscribed?
- The Silverstorm Parks & Resorts IPO was subscribed 1.91 times in total across all investor categories.
- What is the reservation split in the Silverstorm Parks & Resorts IPO?
- Of the total shares offered, retail investors get 35.03%, QIBs 21.83% (plus 28.06% anchor), non-institutional investors 15.08%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Silverstorm Parks & Resorts and what is their holding?
- The promoters are <p>Puthiyaveettil Kuvaka Kunhimon Mohamed Abdul Jaleel, Shalimar Antharathara Ibrahim</p>. Promoter holding is 70.15% before the issue and 50.98% after listing.
- What is the P/E ratio of the Silverstorm Parks & Resorts IPO?
- At the upper price band, the Silverstorm Parks & Resorts IPO is valued at 11.48× pre-issue earnings and 15.8× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Silverstorm Parks & Resorts IPO?
- The net proceeds go primarily toward funding capital expenditure in relation to setting up lucknow snow park and fec, among 5 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Silverstorm Parks & Resorts IPO?
- The book-running lead manager is Vivro Financial Services Pvt.Ltd..
- Is Silverstorm Parks & Resorts a Mainboard or SME IPO?
- Silverstorm Parks & Resorts is an SME IPO, listing on BSE (SME platform).