SILVERSTORM PARKS AND RESORTS LIMITED IPO
Registrar: MUFG Intime India Private Limited · Lead: Vivro Financial Services Private Limited · Listing on BSE
IPO Lot Size
1000 shares / lot · ₹133 upper bandInvestors can bid for a minimum of 1000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,66,000 |
| Retail (Max) | 2 | 2,000 | ₹2,66,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,99,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,31,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,64,000 |
About the company
Silverstorm Parks and Resorts Limited, incorporated on 7 October 1998, is a Kerala-based ISO 9001:2015 certified integrated amusement destination. The company specializes in the development and operation of amusement parks and tourism-related projects, contributing to the state's tourism sector. Its flagship offering is the Silverstorm Water Theme Park, strategically located near Athirappilly Waterfalls in Kerala, spanning approximately 17.38 acres. This park integrates a water theme park, amusement rides, a snow park (Snow Storm, launched in 2017), and resort facilities (Silverstorm Resort with 8 rooms), making it a comprehensive entertainment destination.
The company has expanded its geographical footprint by launching a new indoor snow park in Jamshedpur (operational since October 2025) and is setting up another snow park and family entertainment center in Lucknow (expected operational by Q4 FY27). Silverstorm aims to diversify its offerings and reach new markets, with an upcoming 1.2 km ropeway cable car project at Athirappilly Theme Park expected to be operational in Q2 FY27. It also generates revenue from F&B operations and merchandise sales, having transitioned from outsourcing to a direct billing model from October 2024.
Objectives of the issue
- Funding capital expenditure for setting up Lucknow Snow Park and FEC.
- Funding capital expenditure for the expansion and upgradation of our existing Athirappilly Theme Park, Kerala.
- Repayment and/or prepayment, in full or part, of certain borrowings availed by our Company.
- General Corporate Purposes.
- Enhance our visibility and brand image among existing and potential customers.
- Creation of a public market for our Equity Shares.
Key strengths
- India's first integrated amusement destination, combining water park, snow park, cable car, and resort.
- Established track record with over 2.5 decades of market presence and brand recognition.
- Experienced promoters and senior management team with significant industry knowledge.
- Robust institutional marketing and regional sales network contributing to a stable visitor base.
- High safety and hygiene standards at Athirappilly Theme Park (ISO 9001:2015 certified).
- Prudent capital allocation and consistent financial performance with continuous reinvestment.
- Multi-attraction approach enhancing visitor experience and increasing duration of stay.
- Strategic expansion into new geographies with snow parks in Jamshedpur and Lucknow.
- Self-reliant operations with in-house teams for key functions.
- Unique attractions like Kerala's first indoor snow park ('Snow Storm').
Key risks
- Lack of comprehensive maintenance contracts, risking operational disruptions and increased costs.
- Business is highly seasonal and cyclical, impacting footfalls, revenues, and cash flows.
- Ongoing legal proceedings could adversely impact business operations, financial condition, and reputation.
- Heavy reliance on Athirappilly Theme Park for revenue, making the business vulnerable to localized adverse developments.
- Past non-compliances and untraceable corporate records may lead to regulatory scrutiny and penalties.
- Risk of accidents or safety mishaps at parks, leading to financial liabilities and negative publicity.
- Negative cash flows in the past and potential for future earnings declines or losses.
- Funding for expansion projects is not independently appraised, risking delays and cost overruns.
- Absence of alternate financing arrangements could adversely affect growth plans.
- Intense competition in the entertainment industry could reduce footfalls and profitability.