Silverstorm Parks launches IPO to fund expansion of Indian attractions portfolio
Kerala attractions operator seeks to raise ₹82.43 crore (US$9.39 million, £7.06 million) through public listing
Funds to support new indoor snow park, expansion of flagship destination and debt reduction
Company operates integrated theme park, waterpark, snow park and resort near Athirappilly Falls
IPO highlights growing investor confidence in India’s regional attractions market
Indian attractions operator Silverstorm Parks and Resorts has launched an initial public offering (IPO) as it seeks to accelerate expansion of its leisure portfolio, becoming one of the latest attractions businesses to tap public markets for growth capital.
The company is aiming to raise ₹82.43 crore (US$9.39 million, £7.06 million) through a fresh issue of almost 6.2 million shares, with the offer open from 24 to 28 July ahead of a planned listing on the BSE SME exchange on 31 July. The IPO values shares at between ₹123 (US$1.27, £0.96) and ₹133 (US$1.38, £1.04) each.
Founded in 1998, Silverstorm has developed an integrated visitor destination close to the famous Athirappilly Falls in Kerala. Its 17.4-acre flagship attraction combines a waterpark, amusement park, Kerala’s first indoor snow park, a resort, restaurants and more than 40 rides, attracting families, tourists, school groups and corporate visitors. The company says the destination welcomed more than 1.6 million visitors during the last three financial years.
Alongside its flagship destination, the company also operates an indoor snow park in Jamshedpur and is developing a new indoor snow park and family entertainment centre in Lucknow as it expands beyond its home state.
Proceeds from the IPO will primarily be used to fund the Lucknow project, expand and upgrade the Athirappilly destination, repay existing borrowings and provide additional working capital for future growth. The company is also planning an aerial cable car at Athirappilly, which it says will become the first attraction of its kind at an amusement park in the region.
Silverstorm reported strong financial growth ahead of the offering, with revenue increasing to ₹44.85 crore (US$5.11 million, £3.84 million) in the financial year ended March 2026, while profit after tax almost doubled to ₹19.1 crore (US$2.18 million, £1.64 million).
The listing comes as India’s attractions market continues to diversify beyond traditional amusement parks, with operators increasingly combining waterparks, indoor snow attractions, resorts and family entertainment centres into integrated destinations designed to encourage longer visitor stays and higher guest spending.
