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BSE SME Jungle Camps India soars on debut As on : 17-Dec-24  10:27

The scrip was listed at Rs 136.80, at a premium of 90% compared with the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 143.50 and a low of Rs 129.96. About 16.82 lakh shares of the company changed hands at the counter.

Toss The Coin' IPO was subscribed 459.74 times. The issue opened for bidding on 10 December 2024 and it closed on 12 December 2024. The price band of the IPO was set at Rs 68 to Rs 72 per share.

The IPO comprised fresh issue of 29,23,200 equity shares. The company intends to utilize the net proceeds to meet capital expenditure for the project development at Sanjay Dubri National Park, expenditure for renovation of Pench Jungle Camp at Pench National Park, Madhya Pradesh, capital expenditure for the project development at Mathura Hotel Project, Mathura and general corporate purpose.

Ahead of the Jungle Camps India on 9 December 2024, raised Rs 8.37 crore from anchor investors. The board allotted 11.63 lakh shares at Rs 72 per share to 4 anchor investors.

The Jungle Camps was founded in 2002, with its first lodge, Pench Jungle Camp, located in a natural forested estate. The founding lodge was designed to offer guests an intimate connection with the jungles. In 2018, the company launched Kanha Jungle Camp. The company is described as a conservation-focused hospitality group, boasting a collection of four award-winning boutique resorts situated in prime wildlife and tiger reserve national parks across central India. Due to positive feedback and encouragement from both guests and the trade, the company expanded by adding more lodges to its plan. The company had 194 employees.

The company recorded revenue from operations of Rs 5.64 crore and net profit of Rs 1.10 crore for the period as on 30 June 2024.

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