Jungle Camps India IPO Subscribed Over 490 Times On Final Day; Check GMP And More

Jungle Camps India Ltd.'s Rs 29.42-crore initial public offering (IPO) which closed for bidding on Thursday, was booked nearly 500 times on the final day of subscription.

The SME IPO was fully subscribed in the initial few hours when it opened for bidding on Tuesday. The IPO consists of a fresh issue of 40.86 lakh shares with no offer-for-sale component.

The  Jungle Camps India IPO price band was fixed at Rs 68 to Rs 72 per share. Retail investors were required to buy at least 1,600 shares in one lot, taking the minimum investment amount to Rs 1,15,200.

As per the company's red herring prospectus, of the 40,86,400 shares offered, 19.03% were reserved for Qualified Institutions, 14.25% for Non-Institutional Buyers, 33.24% for Retail Investors and 28.47% for Anchor investors.

Skyline Financial Services Pvt. is the registrar for the Jungle Camps India IPO, and Khambatta Securities Ltd. is the book-running lead manager of the issue. Nikunj Stock Brokers is the market maker for the SME IPO.

The IPO was subscribed 494.58 times as of 6:05 p.m. on Thursday, as per market tracking site Chittorgarh.

• Qualified Institutions: 196.52 times

• Non-Institutional Buyers: 760.48 times

• Retail Investors: 551.20 times

Jungle Camps India IPO GMP (grey market premium) was Rs 60 as of 3:29 p.m. on Dec. 12, indicating a potential listing gain of 83.33% over the issue price. The estimated listing price is Rs 132 per share, according to InvestorGain.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The IPO was subscribed 138.67 times on Wednesday

• Qualified Institutions: 0.04 times

• Non-Institutional Buyers: 104.34 times

• Retail Investors: 232.74 times

The allotment for the Jungle Camps India IPO is expected to be finalised on Friday, December 13. Shares will be credited to the demat accounts of successful bidders on Dec. 16, along with the initiation of refunds to non-allottees.

Shares of Jungle Camps India will list on BSE SME with Tuesday, Dec. 17 as the anticipated listing date.

Jungle Camps India: Business And Financials

Conservation-focused hospitality group Jungle Camps India Ltd. operates wildlife camps and hotels, motels, inns, guest houses, holiday homes, health clubs, catering houses and restaurants in the country. 

The company has four boutique luxury wilderness resorts in Pench National Park, Rukhad in Madhya Pradesh, Bhamdeli village in Maharashtra, and Santapur village in Madhya Pradesh.

Established in 2002, the company owns and operates 87 rooms, including villas, cottages, deluxe rooms, and safari tents.

Use Of Proceeds

Jungle Camps India will use the proceeds from the IPO to meet the capex required for its project in Sanjay Dubri National Park, Madhya Pradesh. Funds will also be used for capex required to renovate its resort in Pench National Park. The company will further use the proceeds to invest in its subsidiary, Madhuvan Hospitality Pvt. Ltd. to develop the Mathura Hotel Project in Mathura. The remaining portion of the money raised via the IPO will be used for general corporate purposes.

Financials

The company’s revenue from operations for the period ended June 30, 2024, was Rs 5.64 crore, with the net profit being 1.1 crore. In FY24, Jungle Camps India Ltd. recorded a revenue of Rs 18.1 crore, while the net profit stood at Rs 3.59 crore.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.