Jungle Camps India IPO subscribed over 36 times on day 1; check price band, lot size & more

The initial public offering of hospitality company Jungle Camps India Ltd. was booked more than 36 times on Tuesday, the first day of bidding, driven by the high demand from retail investors.

The BSE SME issue is open for subscription from December 10 to December 12.

The ₹29.42-crore book-building offer attracted bids for more than 9.81 crore shares against 27.18 shares on offer. The issue was booked 36.11 times at the end of the bidding at 5 pm, as per the BSE data.

Among investor categories, retail individual investors showed the highest demand by applying for nearly 8.41 crore shares against 13.58 lakh shares reserved for them. The retail portion was subscribed 61.92 times. The Non-Institutional Investors (NIIs) placed bids for more than 1.4 crore shares compared to 5.82 lakh shares set aside for the category, leading to a subscription of 24.1 times.

The Qualified Institutional Buyers (QIBs) applied for only 9,600 shares against the 7.77 lakh shares on offer.

Jungle Camps raises ₹8.38 crore from anchor investors

On Monday, the company raised ₹8.38 crore from anchor investors ahead of the launch of the subscription IPO. The company allotted 11,63,200 shares to four fund schemes at a price of ₹72 per share. M7 Global Fund PCC, VIKASA Capital Inc, Saint Capital Fund and Zeta Global Fund are among the anchor investors.

Jungle Camps India IPO details

Jungle Camps India's IPO comprises a fresh issue of 40.86 lakh shares, and there is no offer-for-sale component.

The company has set the price band at ₹68 to ₹72 per share. The minimum lot size is 1,600 shares for retail investors, aggregating to a minimum investment of ₹1,15,200.

Jungle Camps India IPO is open for subscription from December 10 to December 12.

The company will finalise the IPO share allotment status on December 13. Shares will be credited to demat accounts, and refunds will be initiated on December 16.

The company has proposed to list its shares on the BSE SME platform on December 17.

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

Jungle Camps to utilise IPO proceeds for capex needs

The company has proposed to utilise IPO proceeds to fund capital expenditure for the project development at Sanjay Dubri National Park, Madhya Pradesh. The company will use ₹7 crore of IPO funds for the purpose.

It will invest ₹3.5 crore of IPO proceeds to meet capital expenditure for renovating its existing resort, Pench Jungle Camp, at Pench National Park in Madhya Pradesh. The company has proposed to invest ₹11.5 crore in its subsidiary, Madhuvan Hospitality Private Limited, towards capex for a hotel project in Mathura, Uttar Pradesh. Intercontinental Hotels Group (India) Pvt Ltd has expressed interest in entering into a hotel management agreement with Madhuvan Hospitality in connection with the proposed hotel.

About Jungle Camps India Limited

Jungle Camps operates resorts located at wildlife and tiger reserves, national parks across central India, a highway retreat, and a restaurant. The Company, along with its subsidiaries, owns and manages 87 room accommodations, including villas, cottages, deluxe rooms, and safari tents. Other infrastructure includes banquet halls, meeting rooms, restaurants, bars, cafés, swimming pools, spa facilities, and other associated amenities.