Jungle Camps India IPO opens today: GMP zooms 100%; Check key details here

Jungle Camps India's unlisted shares were trading at Rs 147 per share, reflecting a grey market premium (GMP) of Rs 75 or 104.17 per cent against the upper end of the IPO price band of Rs 72

Jungle Camps India IPO: The initial public offering (IPO) of Jungle Camps India opens for public subscription today, Tuesday, December 10, 2024. At the upper end, the company seeks to raise Rs 29.42 crore from the public offering.

 

The SME offering is an entirely fresh issue of 4,086,400 shares, available at a price band of Rs 68-72 per share, with a lot size of 1,600 shares. Accordingly, investors can bid for a minimum of 1,600 shares and in multiples thereof.

 

Meanwhile, the unlisted shares of Jungle Camps India were commanding a strong premium in the grey market on the opening day of its IPO. Sources tracking unofficial markets revealed that the company’s shares were trading at Rs 147 per share, reflecting a grey market premium (GMP) of Rs 75 or 104.17 per cent against the upper end of the IPO price band of Rs 72.

 

 

The three-day subscription window for the Jungle Camps India IPO will close on Thursday, December 12, 2024. Following the closure of subscription window, the basis of allotment of Jungle Camps India IPO shares is expected to be finalised on Friday, December 13, 2024, with shares credited to demat accounts by Monday, December 16, 2024.

 

Jungle Camps India shares are likely to list on the BSE SME on Tuesday, December 17, 2024.

 

Jungle Camps India plans to use the proceeds from the fresh issue to fund capital expenditure for project development at Sanjay Dubri National Park in Madhya Pradesh. Additionally, the company will utilise the funds to renovate its existing resort, Pench Jungle Camp, at Pench National Park in Madhya Pradesh.

 

The remaining proceeds will be invested in its subsidiary, Madhuvan Hospitality (MHPL), for capital expenditure related to the Mathura Hotel Project in Mathura, and for general corporate purposes.

 

Skyline Financial Services is the registrar for the Jungle Camps India IPO, while Khambatta Securities is the sole book-running lead manager of the public issue.

 

Incorporated in 2002, Jungle Camps India operates hospitality services in India, including wildlife camps, hotels, and restaurants. The company owns and operates four boutique resorts in central India’s wildlife and tiger reserve national parks. Additionally, it manages a highway retreat and a restaurant, offering customised travel experiences. The company operates 87 rooms across its properties, which include amenities such as dining facilities, swimming pools, and spas.