Silverstorm Parks and Resorts IPO listing: Shares of Silverstorm Parks and Resorts debuted almost flat on the BSE on Friday, 31 July, amid cautious market sentiment. The SME stock was listed at ₹132.90 compared to its issue price of ₹133.
After a lacklustre debut, the stock plunged 5% from the issue price, hitting its lower circuit at ₹126.30.
According to grey market sources, the listing of Silverstorm Parks shares fell short of expectations, as the last grey market premium (GMP) for the stock on Friday morning was ₹5, indicating it could list at a premium of nearly 4%.
Silverstorm Parks and Resorts IPO details
Silverstorm Parks IPO was a fresh issue of 61,98,000 shares of face value of ₹10 each. With an upper price band of ₹133 per share, the SME IPO was aimed at raising ₹82.43 crore, which the company intends to use to set up Lucknow Snow Park and FEC, and for the expansion and upgradation of its existing Athirappilly Theme Park in Kerala. It will also use the net proceeds from the issue to pay certain borrowings and for general corporate purposes.
The SME IPO opened for subscription on Friday, 24 July, and concluded on Tuesday, 28 July, with an overall subscription of nearly 2 times. Silverstorm Parks IPO share allotment was finalised on Wednesday, 29 July.
Silverstorm Parks runs an amusement cum water park, a snow park, an integrated resort and an upcoming aerial cable car project near Athirappilly waterfalls in Thrissur, Kerala.
In FY24, revenue was ₹18.86 crore, rising to ₹31 crore in FY25 and to ₹43.58 crore in FY26. Profit in FY24 was nearly ₹1 crore and rose to ₹9.71 crore in FY25 and to ₹19.01 crore in FY26.
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