1 month ago
Silverstorm Parks IPO Debuts Flat, Hits Lower Circuit
Silverstorm Parks and Resorts, a company that runs amusement and water parks, sold shares to the public on the Bombay Stock Exchange.
The shares started trading at almost the same price they were sold for, but then fell a little and hit the lowest allowed price.
People who had bought the shares in the grey market were hoping for a small extra profit.
The company sold about 62 million shares and raised about 82 crore rupees.
The money will help build a new snow park in Lucknow, upgrade its existing park in Kerala, pay off some debts, and support other business needs.
Shares listed on BSE on 31 July at ₹132.90, almost flat to issue price ₹133.
Shares fell 5% from issue price, hitting lower circuit at ₹126.30.
Grey market premium was ₹5, suggesting a potential 4% premium at listing.
IPO raised ₹82.43 crore by selling 61.98 lakh shares, with overall subscription about 2×.
Proceeds earmarked for Lucknow Snow Park, FEC, expansion of Athirappilly Theme Park, debt repayment, and corporate purposes.
- Who
- Silverstorm Parks and Resorts
- What
- IPO listing on the Bombay Stock Exchange
- Where
- Bombay Stock Exchange (BSE), India
- When
- 31 July 2024
- Why
- To raise capital for new and expanded parks and resorts
Key facts
- Issue price
- ₹133 per share
- Listing price
- ₹132.90 per share
- Lower circuit
- ₹126.30 per share
- Grey market premium
- ₹5 per share
- IPO size
- ₹82.43 crore
- Shares issued
- 61.98 lakh
- Subscription multiple
- ≈2×
- Use of proceeds
- Lucknow Snow Park, FEC, Athirappilly expansion, debt repayment, corporate purposes
Sources
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