Mumbai: Jungle Camps India IPO – A SME category is creating a huge buzz in the grey market. The initial public offer is a book built issue of Rs 29.42 crore and it is entirely a fresh issue of 40.86 lakh shares. Jungle Camps India IPO will open for subscription on December 10, 2024 and close on 12th December.
Jungle Camps India IPO price band is fixed in the range of Rs 68 to Rs 72 per equity share. The retail investors are required to apply for a minimum lot size of 1600 shares for which the minimum amount of investment required is Rs 115,200. The HNI category investors are mandated to bid for a minimum lot size of 2 lots, equivalent to 3,200 shares.
The Jungle Camps India IPO allotment is expected to take place on December 13, 2024 while the refunds process would begin on 16th December. The Jungle Camps share will list on BSE SME with a tentative date fixed December 17.
Jungle Camps India IPO book running lead manager: Khambatta Securities Limited. Skyline Financial Services Private Ltd is the registrar for the IPO and Nikunj Stock Brokers is the market maker.
Jungle Camps India IPO GMP
Even before the opening of Jungle Camps India IPO, the public offer is making a huge buzz in the grey market. The Jungle Camps IPO GMP stood at Rs 75, around noon on December 5, 2024. With the price band set at Rs 72, the shares of the company which is engaged in the business of providing wildlife camps and hotels, motels, guest houses and restaurants in India, is estimated to list at Rs 147 per share, indicating 104 per cent gain.
Why Jungle Camps launched IPO
Jungle Camps India plans to raise Rs 29.42 crore through the IPO and use the proceeds for developing a new project at Sanjay Dubri National Park in Madhya Pradesh, invest Rs 11.5 crore in its subsidiary, Madhuvan Hospitality Private Ltd, to develop a 4-star hotel in Mathura, Uttar Pradesh and also use the funds for building its brand and presence.
“The company aims to raise approximately Rs 29.42 crore through the IPO to fuel its expansion plans, enhance its brand presence and strengthen its commitment to sustainable tourism. Rs 7 crore of the proceeds will be used for developing a new project at Sanjay Dubri National Park in Madhya Pradesh while Rs 3.5 crore will be utilised for renovating its existing resort, Pench Jungle Camp, located in Pench National Park, Madhya Pradesh,” it stated.
Jungle Camps India has reserved 35 per cent of the shares for retail investors, 50 per cent for Qualified Institutional Buyers (QIB), and 15 per cent for High Net-worth Individuals (HNIs).
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Jungle Camps India IPO GMP is indicating that the shares may list with 100 per cent gains. The Jungle Camps IPO will open for public subscription on December 5, 2024. The price band for the BSE SME IPO is Rs 68 to Rs 72 per equity share. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
