Silverstorm Parks and Resorts Limited operates an integrated leisure and entertainment destination in Athirappilly, Kerala, featuring an amusement park, water park, and indoor snow park, while strategically expanding its footprint to Jamshedpur and Lucknow.
Transitioning to the public markets, the Silverstorm Parks and Resorts Limited IPO opens for subscription on July 24, 2026, and closes on July 28, 2026. Track all the latest IPOs at our dedicated Mainboard & SME IPO Section.
To fund the development of new entertainment centres and reduce existing debt, the company intends to raise up to ₹82.00 crores entirely through a fresh issue of 61,98,000 equity shares.
The price band for this BSE SME offering has been fixed at ₹123 to ₹133 per equity share, requiring a minimum retail bidding lot of 2,000 shares.
Here is a detailed look at the Silverstorm Parks and Resorts Limited IPO, featuring current GMP, subscription rates, allotment schedules, and share prices.
Briefs of Silverstorm Parks and Resorts Limited IPO Details
- Price Band: ₹123 – ₹133 per share
- IPO Open / Close Dates: 24 July 2026 / 28 July 2026
- Lot Size: 1,000 shares (Minimum Bid: 2,000 shares)
- Issue Size: 61,98,000 shares / ₹82.00 crores
- Fresh Issue / OFS: Fresh Issue of 61,98,000 shares / OFS: Nil
- Registrar: MUFG Intime India Pvt.Ltd.
- Listing Exchange: BSE SME
IPO Reservation
- Face value: ₹10 per share
- Anchor offer: Up to 60% of the QIB Portion
- QIB-shares: Not more than 50% of the Net Issue
- NIIs-Shares offered: Not less than 15% of the Net Issue
- RIIs- Shares offered: Not less than 35% of the Net Issue
What is the latest unofficial Premium (GMP) for the Silverstorm Parks and Resorts Limited IPO today?
Monitor daily updates to the grey market premium for this and other offerings on our main GMP tracking page.
Note: These figures indicate unofficial market demand and are not regulated by SEBI, NSE, or BSE.
What is the Timeline for the Silverstorm Parks and Resorts Limited IPO Dates and Allotment?
- IPO Open & Close Date: 24 July 2026 to 28 July 2026
- Basis of Allotment Date: 29 July 2026
- Refund Initiation Date: 30 July 2026
- Credit of Shares: 30 July 2026
- Listing Date: 31 July 2026
What Are The Main Objectives of Silverstorm Parks and Resorts Limited IPO ?
The firm plans to allocate the net funds generated from the fresh issue for these central purposes:
- Lucknow Snow Park and FEC: Funding capital expenditure to establish a new indoor snow park and Family Entertainment Center in Lucknow, Uttar Pradesh.
- Athirappilly Expansion: Financing the upgradation of the existing Kerala theme park, including the addition of a new restaurant, banquet hall, and expanded snow park facilities.
- Debt Repayment: Prepaying or repaying certain existing borrowings to lower finance costs and improve the debt-to-equity ratio.
- General Corporate Purposes: Managing daily operational needs while funding brand awareness initiatives.
How has Silverstorm Parks and Resorts Limited Performed Financially according to its Records?
The following section summarizes the company's financial history with all figures stated in Crore Rupees
Period Ended | 31 Mar 26 | 31 Mar 2025 | 31 Mar 24 |
Total Income | 44.85 | 31.64 | 19.11 |
Profit After Tax | 19.10 | 9.71 | 0.97 |
EBITDA | 29.36 | 16.56 | 6.52 |
Total Borrowing | 65.07 | 29.95 | 28.36 |
Assets | 214.09 | 151.60 | 112.02 |
Source: RHP
Total Income
The company displayed consistent year-on-year increases in its top-line generation over the reported periods.
- Total income grew from ₹19.11 crores in FY24 to ₹44.85 crores in FY26.
- This was supported by a post-pandemic rebound in amusement park footfalls.
- New revenue streams from bringing food and beverage operations in-house further aided this metric.
Profit After Tax
The net earnings observed a substantial scale-up as operations normalized and geographic expansion took effect.
- PAT increased from ₹0.97 crores in FY24 to ₹19.10 crores in FY26.
- Increased ticketing revenue and non-ticketing merchandise sales led to this rise.
- The net profit margin reached 42.59% in the latest fiscal year, showcasing efficient absorption of fixed costs.
EBITDA
Core operational earnings expanded rapidly, reflecting the high operating leverage inherent in the amusement park model.
- EBITDA advanced from ₹6.52 crores in FY24 to ₹29.36 crores in FY26.
- The EBITDA margin improved significantly to 67.37% in FY26.
- Fixed overhead costs were effectively absorbed by the higher volume of visitors.
Total Borrowing
The business took on additional debt to finance its capital-intensive expansion projects across different states.
- Borrowings stood at ₹28.36 crores in FY24 and increased to ₹65.07 crores by FY26.
- These liabilities comprised primarily of secured term loans from financial institutions.
- A dedicated portion of the IPO proceeds will be utilised to reduce this outstanding indebtedness.
Assets
The total resource base widened considerably to accommodate ongoing infrastructure developments and land revaluations.
- Total assets almost doubled from ₹112.02 crores in FY24 to ₹214.09 crores in FY26.
- This includes significant capital work-in-progress for the upcoming cable car and Lucknow facility.
- Upward revaluations of prime land assets in 2021 and 2024 also contributed to this asset base.
What Are The P/E ratio and Peer Comparison of Silverstorm Parks and Resorts Limited?
The Price-to-Earnings (P/E) ratio divides the current stock price by Earnings Per Share (EPS) to assess if a company is priced competitively within its industry.
Based on the upper IPO price band of ₹133 and an FY26 Basic EPS of ₹12.59, Silverstorm Parks and Resorts Limited has an implied P/E ratio of approximately 10.56x.
Check this detailed report on P/E Valuation and listing performance: IPO Valuation vs Listing Performance Study 2026
Name of the Company | Revenue from Operations (₹ Cr) | Basic EPS (₹) | P/E Ratio (x) | RoNW (%) | NAV (₹) |
Silverstorm Parks and Resorts Ltd | 43.58 | 12.59 | 10.56 | 30.98 | 44.20 |
Wonderla Holidays Limited | 518.77 | 12.89 | 36.65 | 4.64 | 283.20 |
Imagicaaworld Entertainment Ltd | 373.85 | 0.01 | 4,701.00 | 0.05 | 22.16 |
Nicco Parks & Resorts Limited | 66.35 | (0.58) | N.A. | 10.74 | 22.35 |
Analysis:
Silverstorm Parks and Resorts Limited enters the primary market with an implied P/E multiple of 10.56x.
When benchmarked against listed industry peers like Wonderla Holidays (36.65x) and Imagicaaworld Entertainment (4,701.00x), the issue appears to be priced at a noticeable discount.
While operating on a much smaller revenue base than the established giants, Silverstorm boasts a superior Return on Net Worth (RoNW) of 30.98%. This indicates a highly efficient utilisation of shareholder equity on a smaller, highly profitable asset base.
What is The Industry Outlook of Silverstorm Parks and Resorts Limited?
Growth potential: The Indian leisure and entertainment sector is experiencing a steady resurgence driven by rising disposable incomes, urbanisation, and a growing preference for experiential domestic travel. Integrated destinations that offer a mix of thrill rides, snow parks, and hospitality are well-positioned to capture both local weekend traffic and out-of-state tourists.
Market trends and competitors: The amusement park industry requires high upfront capital expenditure and long gestation periods. Success in this fragmented market relies heavily on ensuring visitor safety, continuous addition of new attractions, and maintaining high operating leverage. Establishing multi-city footprints helps mitigate the inherent seasonality of individual locations.
What Are The Strengths and Risks of Silverstorm Parks and Resorts Limited IPO ?
Strengths:
- Integrated Model: Once its cable car project is operational, the Athirappilly facility will be a unique integrated destination combining a theme park, snow park, resort, and ropeway.
- Strong Return Ratios: The business demonstrates excellent capital efficiency, posting a Return on Net Worth (RoNW) of 30.98% and a Return on Capital Employed (RoCE) of 25.22% in FY26.
- Geographic Diversification: The launch of facilities in Jamshedpur and Lucknow reduces the historical reliance on a single geographic location.
Risks:
- High Seasonality: Revenue generation is highly seasonal, peaking during Diwali, Christmas, and summer school holidays. Unfavourable weather during these windows can skew annual results.
- Maintenance Setup: The lack of formal annual maintenance contracts for rides and machinery exposes the firm to unbudgeted breakdown costs and operational disruptions.
- Geographic Concentration: Currently, a vast majority of the company's revenue is derived solely from its Kerala-based park, making it susceptible to local economic or environmental events.
Important iPO Related Resources:
1. IPO Allotment Status – How to Check Allotment Status of IPO Shares
2. Latest IPO Subscription Status Today | Live Updates
3. IPO Glossary: 100+ Important Terms Every Investor Should Know
4. June 2026 IPO Subscription Review: 25 IPOs Data, Demand Patterns & Key Trends
5. June 2026 IPO Review: 22 IPOs, ₹2,502 Cr Raised & 75.98x Average Subscription
Key Considerations for Investors
- Seasonal Revenue Exposure: Footfalls concentrate heavily in Q3, Q4, and summer months, leaving annual revenues exposed to unpredictable weather or regional disruptions during these peak periods.
- Geographic Expansion: Proceeds will fund the new Lucknow park, shifting business reliance away from the primary Kerala facility and aiding geographic diversification.
- Debt Reduction: The company plans to utilise ₹24 crores from the issue to lower its FY26 borrowings of ₹65.07 crores, improving leverage.
- Maintenance Risks: Operating without formal annual maintenance contracts for critical rides exposes the company to potential unbudgeted mechanical breakdowns.
Key Takeaways
- IPO Price Band: ₹123 to ₹133 per equity share
- Lot Size: 1,000 shares (Minimum retail investment of ₹2,66,000 for 2,000 shares)
- Allotment Date: Allotment on 29 July 2026
- Listing Date: Listing on BSE SME on 31 July 2026
FAQs on Silverstorm Parks and Resorts Limited IPO
How much is the Silverstorm Parks and Resorts Limited IPO GMP trading at today?
Current GMP figures for this SME issue are available on our tracking page, reflecting daily shifts in unofficial market sentiment.
What is Silverstorm Parks and Resorts Limited IPO price band?
Equity shares are priced within a designated band of ₹123 to ₹133 each.
What is the IPO allotment date of Silverstorm Parks and Resorts Limited?
Shares are scheduled to be officially allocated to investors on July 29, 2026.
Where can investors view the official allotment status for the Silverstorm Parks and Resorts Limited IPO
You can verify your share status by inputting your PAN or application details on the official MUFG Intime India Pvt. Ltd. registrar page.
What is the IPO listing date of Silverstorm Parks and Resorts Limited?
Trading for these equity shares is scheduled to begin on the BSE SME exchange on July 31, 2026.
Investment Perspective on Silverstorm Parks and Resorts Limited IPO
Silverstorm Parks and Resorts Limited presents a compelling yet high-risk investment opportunity.
As an integrated amusement destination in Kerala, it boasts strong financials with a 30.98% RoNW and robust FY26 profit growth.
The 100% fresh issue funds expansion into Lucknow and vital debt repayment. While high margins and diversification are attractive, prospective investors must carefully weigh key risks like heavy reliance on the Athirappilly park, seasonal volatility, and capital intensity.
Disclaimer:
This material is designed for general reference and does not constitute a personal financial recommendation. Seeking advice from a SEBI-registered professional is strongly advised before entering the market.
