Business News | Silver Storm Parks & Resorts Opens INR 82.43 Crore IPO
Get latest articles and stories on Business at LatestLY. Thrissur (Kerala) [India], July 25: Silver Storm Parks & Resorts Limited, one of South India's prominent tourism and theme park operators, has opened its Initial Public Offering (IPO) on July 24, 2026, aiming to raise ₹82.43 crore through a fresh issue of 61.98 lakh shares.
VMPL
Thrissur (Kerala) [India], July 25: Silver Storm Parks & Resorts Limited, one of South India's prominent tourism and theme park operators, has opened its Initial Public Offering (IPO) on July 24, 2026, aiming to raise ₹82.43 crore through a fresh issue of 61.98 lakh shares.
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The IPO is priced in a band of ₹123-₹133 per equity share with a face value of ₹10. The public issue will remain open until July 28, while the company's shares are proposed to be listed on the BSE SME Platform on July 31, 2026.
The anchor investor portion opened on July 23, with up to 17.61 lakh equity shares reserved for anchor investors. Of the balance issue, 11.76 lakh shares have been allocated to Qualified Institutional Buyers (excluding anchor investors), 8.88 lakh shares to Non-Institutional Investors (NIIs), and 20.62 lakh shares to Retail Individual Investors (RIIs). Investors can bid for a minimum of 2,000 equity shares, with bids thereafter in multiples of 1,000 shares.
Expansion Plan
The company intends to utilise the net proceeds from the IPO primarily to develop a new Indoor Snow Park and Family Entertainment Centre at Omaxe Hazratganj Mall, Lucknow. Funds will also be used to expand and modernise its flagship destination at Athirappilly, Kerala, while a portion has been earmarked for general corporate purposes.
Vivro Financial Services Private Limited is acting as the Book Running Lead Manager to the issue, while MUFG Intime India Private Limited has been appointed as the Registrar.
Driving the Next Phase of Growth
Addressing a press conference in Thrissur, A.I. Shalimar, Managing Director of Silver Storm Parks & Resorts Ltd., said the company has spent over two-and-a-half decades building its Athirappilly destination into one of Kerala's leading tourism attractions. He noted that the proposed IPO would enable the company to accelerate expansion, strengthen its entertainment portfolio, and enter new markets.
Silver Storm currently operates tourism and entertainment destinations under the 'Silver Storm' and 'Snow Storm' brands in Athirappilly, Kerala, and Jamshedpur, Jharkhand. Located near the renowned Athirappilly Waterfalls, the Kerala property attracts leisure travellers, families, educational institutions, and corporate groups throughout the year.
The destination features an amusement park, water park, indoor snow park, resort, and multiple food and beverage outlets. As part of its upcoming Onam expansion, the company will introduce two major attractions--a Cable Car and Forest Village--further strengthening its integrated tourism offering.
The company also commenced operations of its Indoor Snow Park in Jamshedpur in October 2025, marking its first expansion outside Kerala. The proposed Lucknow facility is expected to further strengthen its presence in the growing indoor entertainment segment.
Financial Performance
Silver Storm Parks & Resorts reported a strong financial performance for the financial year 2025-26, with revenue rising to ₹44.85 crore from ₹31.64 crore in the previous year. Net profit nearly doubled to ₹19.10 crore, compared with ₹9.71 crore in FY2024-25, reflecting robust growth in both operations and profitability.
Press Conference
The IPO announcement was made during a press conference held at Pearl Regency, Thrissur, in the presence of:
- Abdul Jaleel - Chairman
- A.I. Shalimar - Managing Director
- Siraj V.A. - Promoter
- K. Aravindakshan - Independent Director
- K. Ramachandran - Chief Financial Officer
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
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