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Silverstorm Parks and Resorts IPO opens, priced at ₹123 to ₹133
The BSE SME IPO is a fresh issue of about 62 lakh shares, and anchor investors raised nearly ₹22 crore at an allocation price of ₹133.
Silverstorm Parks and Resorts has opened its IPO for public subscription on 24 July, with the offer set to run until 28 July. The BSE SME issue is a fresh offering of nearly 61,98,000 shares of face value ₹10 each, with no offer for sale portion.
The IPO price band is ₹123 to ₹133 per equity share. Ahead of the listing, the company raised nearly ₹22 crore from anchor investors by issuing 16.52 lakh shares to 14 anchors at an allocation price of ₹133.
Subscription data early in the process showed an overall subscription of about 0.12 times by 11:10 AM on 24 July, with retail subscribed 0.14 times and NIIs at 0.22 times, while the QIB portion had not seen any subscription yet at that point. Grey market activity was described as tepid, with the latest GMP indicating the stock could list at par, and the GMP was nil on Friday morning, according to grey market sources cited by the outlet.
Silverstorm Parks and Resorts said in its RHP that it plans to use net proceeds for capital expenditure, including setting up Lucknow Snow Park and FEC, expanding and upgrading its existing Athirappilly Theme Park in Kerala, paying certain borrowings, and for general corporate purposes. The company is expected to finalize allotment on 29 July, with shares credited to demat accounts on 30 July, according to LiveMint Markets.