Now Reading: Silver Storm Parks launches Rs 82.43 crore IPO
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Silver Storm Parks launches Rs 82.43 crore IPO
Silver Storm Parks and Resorts has launched an initial public offering of equity shares worth Rs 82.43 crore, Bar and Bench reports. Law firm Rajani Associates advised the company and book running…
The Story in Brief
Silver Storm Parks and Resorts has launched an initial public offering of equity shares worth Rs 82.43 crore, Bar and Bench reports. Law firm Rajani Associates advised the company and book running lead manager Vivro Financial Services on the issue.
Rajani Associates handled legal and secretarial diligence, offer document drafting and responses to BSE queries, along with transaction agreements and related documents. Silver Storm operates an amusement and water theme park near Kerala’s Athirapilly waterfalls. The company plans to use the IPO proceeds to set up a Snow Park in Lucknow and expand and upgrade its Athirappilly Theme Park.
The Indian Opinion
A legal firm’s involvement does not make this IPO a safe investment, despite the promotional tone common in deal announcements. Nor does a planned Snow Park prove that the expansion will draw enough visitors. Investors should examine the prospectus for revenue, debt, seasonality and project costs. The useful test will be whether the company turns the Rs 82.43 crore issue into sustained visitor growth and operating profits.
Source: barandbench.com
This story was synthesised by AI from the source linked above.
