Jungle Camps India Ltd Launches IPO with Sustainable Tourism Focus

Jungle Camps India Ltd announced an IPO price band of Rs 68-72 per share, opening on December 10. Aiming to raise Rs 29.42 crore, the funds will support expansion, sustainability, and projects in Madhya Pradesh and Uttar Pradesh. Shares are allocated to retail investors, QIBs, and HNIs.

Jungle Camps India Ltd, a company recognized for its wildlife and conservation-focused accommodations, revealed its plan to open an Initial Public Offering (IPO) on Wednesday. The IPO will feature a price range of Rs 68-72 per share, with the subscription window opening on December 10 and concluding on December 12.

The IPO, intended for listing on the BSE Small and Medium Enterprises (SME) platform, will introduce a fresh issue of 4,086,400 equity shares, each having a face value of Rs 10. Through this offering, the company aims to amass approximately Rs 29.42 crore to bolster its expansion efforts, enhance brand visibility, and affirm its commitment to sustainable tourism.

A portion of the raised capital, Rs 7 crore, is earmarked for a new development project at Sanjay Dubri National Park in Madhya Pradesh, while Rs 3.5 crore will go toward upgrading the existing Pench Jungle Camp in Pench National Park. Additionally, Rs 11.5 crore will aid in establishing a 4-star hotel in Mathura, Uttar Pradesh, via its subsidiary, Madhuvan Hospitality Private Ltd. The remaining funds are designated for general corporate purposes, with 35% of shares allocated for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-worth Individuals (HNIs).

(With inputs from agencies.)