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Home/Business/Silver Storm Parks & Resorts IPO: ₹82.43…

Silver Storm Parks & Resorts IPO: ₹82.43 Crore Raised

Business
By ThePip Desk•
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A modern cable car cabin with tourists moves over a lush green forest, with Athirappilly Waterfalls in the background.

Cable car at Silver Storm Parks & Resorts in Athirappilly, Kerala

Key Highlights

Silver Storm Parks & Resorts Limited successfully closes its IPO, raising ₹82.43 crore with strong investor demand across QIB, RII, and NII categories.

Silver Storm Parks & Resorts Limited successfully completed its (IPO), raising a total of ₹82.43 crore. The offering saw strong demand across all investor categories, indicating significant market confidence in the tourism and theme park operator.

Vivro Financial Services Private Limited served as the Book Running Lead Manager for the IPO. MUFG Intime India Private Limited acted as the for the issue.

Key Investor Subscriptions

  • (QIB) subscribed 1.81 times, contributing ₹31.02 crore to the total.
  • Individual Investors (RII) subscribed 1.41 times, with applications totaling ₹38.73 crore.
  • Non-Institutional Investors () showed the highest demand, subscribing 3.19 times for ₹37.64 crore.
  • Anchor Investors brought in ₹21.97 crore, while the Market Maker contributed ₹4.14 crore.

Current Operations & Brand Footprint

The company operates theme parks and resorts under its ‘Silver Storm’ and ‘Snow Storm’ brands. These properties are established in Athirappilly, Kerala, and Jamshedpur, Jharkhand.

The Athirappilly destination, located near the iconic Athirappilly Waterfalls, is a favored getaway for various groups. This includes domestic tourists, educational institutions, corporate groups, and families.

Future Expansion Initiatives

Silver Storm is significantly expanding its offerings with several new attractions planned. The company aims to enhance its existing portfolio and reach new markets.

  • An upcoming Cable Car and Forest Village experience is set for launch at the Athirappilly destination this Onam season.
  • This addition will create India’s first destination offering such a comprehensive range of entertainment experiences within a single location.
  • A new Snow Park and Entertainment Centre is planned for the Omaxe Hazratganj Mall in Lucknow.
  • The Indoor Snow Park in Jamshedpur was inaugurated in October 2025, further diversifying its entertainment options.

Leadership’s Vision

A.I. Shalimar, Managing Director of Silver Storm Parks & Resorts Limited, affirmed the company’s long-standing success. He stated that Silver Storm at Athirappilly has been a premier Kerala tourism destination for over two and a half decades.

Shalimar also highlighted the successful expansion into Jamshedpur, confirming the company’s continued pursuit of growth with new attractions and destinations.

AthirappillyIndiaJamshedpurJharkhandKeralaLucknowOnamSilver Storm Parks & Resorts Limited