Silverstorm Parks IPO
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Silverstorm Parks IPO details
Schedule of Silverstorm Parks
| Issue open date | 24 Jul 2026 |
| Issue close date | 28 Jul 2026 |
| UPI mandate deadline | 28 Jul 2026 (5 PM) |
| Allotment finalization | 29 Jul 2026 |
| Refund initiation | 30 Jul 2026 |
| Share credit | 30 Jul 2026 |
| Listing date | 31 Jul 2026 |
| Mandate end date | 12 Aug 2026 |
| Lock-in end date for anchor investors (50%) | 28 Aug 2026 |
| Lock-in end date for anchor investors (remaining) | 27 Oct 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
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.
Financials of Silverstorm Parks
Issue size
| Funds Raised in the IPO | Amount (₹ Cr.) |
| Total issue size | 82.43 |
| Fresh Issue – Proceeds go to the company | 82.43 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Setting up Lucknow Snow Park and FEC |
26.12 (31.69%) |
| Expanding and upgrading Athirappilly Theme Park, Kerala | 15.14 (18.37%) |
| Repayment/prepayment of borrowings | 24 (29.12%) |
| General corporate purposes | 17.17 (20.82%) |
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.