One of Kerala’s best-known amusement park operators, Silverstorm Parks and Resorts Ltd, is preparing to enter the capital markets with an Initial Public Offering (IPO) aimed at raising ₹82 crore. The public issue will open on July 24, with the company’s shares set to be listed on the BSE SME platform.
The IPO has been priced in a band of ₹123 to ₹133 per share, with the company offering 6.198 million equity shares. The anchor investor round is scheduled for July 23, while the shares are expected to debut on the stock exchange on July 31. Investors can apply for a minimum lot of 2,000 shares, with additional applications accepted in multiples of 1,000 shares.
Expansion Plans
Silverstorm plans to use the IPO proceeds to support its next phase of growth. A significant portion of the funds will be invested in developing a new Snow Park and Family Entertainment Centre in Lucknow, Uttar Pradesh.
The company will also allocate capital towards the expansion and modernisation of its flagship amusement park at Athirappilly, Thrissur. The remaining proceeds will be used for debt repayment and general corporate purposes.
The expansion comes shortly after Silverstorm strengthened its national presence by launching a new Snow Park in Jamshedpur.
From Kerala Landmark to Public Company
Established around 25 years ago, Silverstorm began as a collaborative venture by a group of entrepreneurs at Athirappilly in Thrissur. Under the leadership of A. I. Shalimar, the park has grown into one of Kerala’s most recognised amusement and family entertainment destinations.
Today, the company is promoted by eight promoters, who collectively hold 88.72% of the equity. Abdul Jaleel serves as the Chairman, while A. I. Shalimar is the Managing Director. Ahead of the public issue, the company also completed a pre-IPO fundraising round, reflecting its plans for expansion beyond Kerala.
As Silverstorm enters the public markets, the IPO marks an important milestone for a Kerala-born leisure and entertainment brand seeking to accelerate growth across India.
