Upcoming IPO: Jungle Camps India IPO opens on December 10; issue price band set at ₹68-72 apiece; check GMP

Jungle Camps India IPO will open for subscription on Tuesday, December 10, and close on Thursday, December 12. Jungle Camps India IPO price band has been fixed in the range of ₹68 to ₹72 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter.

The allocation of shares is structured as follows: 35% will be designated for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNWIs).

Established in 2002 by Gajendra Singh Rathore, Jungle Camps India Limited is a forward-thinking hospitality company dedicated to conservation and offering enriching wildlife experiences in India’s captivating natural reserves.

Jungle Camps India proudly manages award-winning properties in prestigious wildlife destinations, such as Pench Tiger Reserve, Kanha Tiger Reserve, the Rukhad Buffer Zone of Pench Tiger Reserve, and Tadoba Tiger Reserve. The company excels in crafting exceptional hospitality experiences amidst serene forest environments, enabling guests to deeply connect with and appreciate the remarkable biodiversity of India through exciting wildlife safaris.

The company and its subsidiaries currently own and manage 87 accommodations, which include villas, cottages, deluxe rooms, and safari tents. Jungle Camps India is also expanding its portfolio with four new hospitality projects that will add 170 more accommodations. This expansion includes boutique wildlife resorts and a heritage hotel. Once these projects are completed, Jungle Camps India will manage a total of seven properties, including luxury resorts and a highway motel featuring an integrated restaurant.

As per the red herring prospectus (RHP), the company’s listed peers are Best Eastern Hotels Ltd (with a P/E of 211.88), The Byke Hospitality Ltd (with a P/E of 54.70), Espire Hospitality Ltd (with a P/E of 104.21), and Ras Resorts and Apart Ltd (with a P/E of 117.15).

Between the fiscal year that ended on March 31, 2024, and the fiscal year that ended on March 31, 2023, Jungle Camps India’s revenue grew by 61.01% and its profit after tax (PAT) increased by 699.55%.

Jungle Camps India IPO details

Jungle Camps India IPO consists of a fresh issue of 40,86,400 equity shares, aggregating to ₹29.42 crore. There’s no offer for sale (OFS) component.

The company will use the proceeds from the new issue for several key initiatives such as investment in capital expenditures for project development at Sanjay Dubri National Park, Madhya Pradesh; renovation of the Pench Jungle Camp resort at Pench National Park, Madhya Pradesh; funding the Mathura Hotel Project through our subsidiary, Madhuvan Hospitality Private Limited (MHPL); and general corporate purposes.

The Jungle Camps India IPO’s book running lead manager is Khambatta Securities Limited, and the issue’s registrar is Skyline Financial Services Private Ltd. Nikunj Stock Brokers is the market maker for the Jungle Camps India IPO.

Jungle Camps India IPO GMP today

Jungle Camps India IPO GMP today is +75. This indicates Jungle Camps India share price was trading at a premium of ₹75 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jungle Camps India share price is indicated at ₹147 apiece, which is 104.17% higher than the IPO price of ₹72.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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