Bumper Listing! Jungle Camps India shares debut at 90% premium over issue price on BSE SME

Jungle Camps India IPO listing: Jungle Camps India shares witnessed a solid debut on Tuesday, December 17, as they listed at ₹136.80 on BSE SME, a premium of 90% over the issue price of ₹72 per share.

The SME initial public offer (IPO) opened for bidding on December 10 and closed on December 12. The issue was priced in the range of ₹68-72 per share, with the company looking to raise ₹29.42 crore at the upper price band.

Jungle Camps IPO was entirely a fresh issue of 40.86 lakh shares with no offer for sale (OFS) component.

The company plans to use the proceeds raised via the IPO for various purposes, including capital expenditure for developing a project at Sanjay Dubri National Park in Madhya Pradesh and renovating the existing Pench Jungle Camp resort at Pench National Park, also in Madhya Pradesh. Additionally, it plans to invest a portion of the funds in its subsidiary, Madhuvan Hospitality Private Limited (MHPL), to cover capital expenditure for the Mathura Hotel Project in Mathura. The remaining funds will be allocated for general corporate purposes.

Jungle Camps India IPO Subscription

Jungle Camps India IPO witnessed robust demand, with the issue garnering 494.58 times bids. The non-institutional investors (NII) category was booked the most at 760.48 times, followed by the retail quota that was subscribed 551.20 times, and finally, the qualified institutional buyer's (QIB) quota, which garnered 198.52 times bids.

About Jungle Camps India

Jungle Camps India, founded in 2002, specialises in providing unique wildlife and hospitality experiences. The company operates a diverse range of accommodations, including wildlife camps, hotels, motels, inns, guest houses, holiday homes, health clubs, catering establishments, and restaurants across India.

The company owns and manages 87 rooms spread across villas, cottages, deluxe rooms, and safari tents. These properties are equipped with modern amenities such as banquet halls, meeting rooms, restaurants, bars, cafes, swimming pools, and spa facilities to ensure a comfortable and memorable stay.

Jungle Camps India has posted strong financial results, with revenue surging by 61.01 per cent and profit after tax (PAT) by 699.55 per cent between fiscal 2023 and fiscal 2024.

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