Silverstorm Parks & Resorts Limited

Here is the overview of Silverstorm Parks & Resorts Limited along with its company fundamentals, subscription details, and Grey Market Premium (GMP).

1. Company Overview & Business Profile

Incorporated in 1998, Silverstorm Parks & Resorts Limited is an integrated tourism and leisure management company operating theme parks, water parks, indoor snow parks, and resort hospitality services.

  • Flagship Property: Silver Storm Theme Park, located across ~17.38 acres near Athirappilly waterfalls in Thrissur, Kerala. It integrates an amusement park, water park, indoor snow park (Snow Storm), resort, and dining facilities.

  • Other Operations & Expansion: Operates an indoor snow park in Jamshedpur, Jharkhand, and is setting up a new indoor snow park and Family Entertainment Centre (FEC) in Lucknow, UP. It is also developing a 1.2 km aerial cable car project at Athirappilly.

  • Objects of the Issue: Proceeds from the IPO are allocated toward setting up the Lucknow project (~₹26.12 Cr), expanding/upgrading the Athirappilly theme park (~₹15.14 Cr), debt repayment (~₹24.0 Cr), and general corporate purposes.

2. Key Company Fundamentals & Financials

The company has demonstrated strong financial momentum over the past three fiscal years:

Metric / Financial Indicator FY2024 FY2025 FY2026
Total Revenue ₹18.86 Cr ₹31.00 Cr ₹43.58 Cr
Profit After Tax (PAT) ₹0.97 Cr ₹9.71 Cr ₹19.10 Cr
EBITDA Margin 34.59% 53.41% 67.37%
PAT Margin 5.06% 30.69% 42.59%
Return on Equity (ROE) 4.90% 26.34% 30.98%
Debt-to-Equity Ratio 1.21x 0.58x 0.89x

  • Strengths: High operational margins, strong revenue CAGR (~52%), experienced promoters with 25+ years in the industry, and zero Offer-for-Sale (100% fresh issue).

  • Key Risks: Geographically concentrated revenues heavily dependent on the Athirappilly property, seasonality of tourism, and capital-intensive maintenance requirements.

3. IPO Key Details & Schedule

  • Issue Opening Date: July 24, 2026

  • Issue Closing Date: July 28, 2026

  • Basis of Allotment: July 29, 2026

  • Tentative Listing Date: July 31, 2026 (BSE SME Platform)

  • Price Band: ₹123 – ₹133 per share

  • Total Issue Size: ₹82.43 Crore (100% Fresh Issue of 61.98 Lakh shares)

  • Lot Size: 1,000 shares

  • Minimum Retail Application: 2 lots (2,000 shares) = ₹2,66,000 (at the upper band)

4. Live Subscription Status

As the bidding window closed on July 28, 2026, total demand across categories was overall subscribed ~1.11x:

  • Qualified Institutional Buyers (QIB): ~0.99x

  • Non-Institutional Investors (NII / HNI): ~1.90x

  • Retail Individual Investors (RII): ~0.89x

  • Overall Subscription: ~1.11x

5. Grey Market Premium (GMP)

  • Current Live GMP: ₹0 (0.00% Premium)

  • Estimated Listing Price: ₹133 (Equal to the upper price band)

Note: There has been minimal to zero activity recorded in the grey market for this issue, signaling neutral demand among short-term listing gain investors.ipoind.com

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