Silverstorm Parks and Resorts, a Kerala‑based operator of amusement and water parks, launched its initial public offering on July 28. The issue of 45.46 lakh shares attracted 83.85 lakh shares in bids, giving a subscription rate of 1.84 times the offer size.
Demand came from all investor segments. The non‑institutional quota was subscribed 2.62 times, the qualified institutional buyers (QIB) 1.81 times and retail investors 1.41 times.
The company will finalize the share allotment on July 29 and will start trading on the BSE SME platform on July 31.
Market observers noted that the shares are trading at par in the grey market, without any premium.
Silverstorm has already raised Rs 21.97 crore from 14 anchor investors, including Aarth AIF Growth Fund, VBCube Ventures Fund, Kingsman Wealth Fund, 31 Degrees North Fund and SMC India Opportunities Fund.
Net proceeds of Rs 26.11 crore will fund a new snow park and family entertainment centre in Lucknow, Uttar Pradesh. Rs 15.1 crore will upgrade the Athirappilly theme park, Rs 24 crore will go towards debt repayment and the rest will cover general corporate expenses. The company recorded 6.71 lakh footfalls in FY26, up from 5.14 lakh the previous year.
Vivro Financial Services acted as the merchant banker for the IPO.