Jungle Camps India sets SME IPO price band at Rs 68-72; to open on Dec 10

Jungle Camps India Ltd, which provides wildlife and conservation-focused lodges to guests, on Wednesday announced a price band of Rs 68-72 per share for its IPO, which will open on December 10 and close on December 12.

The Initial Public Offering (IPO) -- to list on BSE Small and Medium Enterprises (SME)-- consists of a fresh issue of 4,086,400 equity shares with a face value of Rs 10 each.

"The company aims to raise approximately Rs 29.42 crore through the IPO to fuel its expansion plans, enhance its brand presence and strengthen its commitment to sustainable tourism. Rs 7 crore of the proceeds will be used for developing a new project at Sanjay Dubri National Park in Madhya Pradesh while Rs 3.5 crore will be utilised for renovating its existing resort, Pench Jungle Camp, located in Pench National Park, Madhya Pradesh," it stated.

 

Moreover, the company intends to invest Rs 11.5 crore in its subsidiary, Madhuvan Hospitality Private Ltd, to develop a 4-star hotel in Mathura, Uttar Pradesh. The remaining capital will be used for general corporate purposes.

Jungle Camps India informed that 35 per cent of the shares will be allocated to retail investors, 50 per cent to Qualified Institutional Buyers (QIB), and 15 per cent to High Net-worth Individuals (HNIs).