Jungle Camps India IPO Opens Today with 100% Grey Market Premium; Key Details & Subscription Info
The IPO seeks to raise Rs 29.42 crore with a price band of Rs 68-72 per share, as unlisted shares command a strong Rs 147 in the grey market.
The much-awaited initial public offering (IPO) of Jungle Camps India opens for public subscription today, Tuesday, December 10, 2024. The company, which specializes in eco-tourism and resorts in India’s national parks, aims to raise Rs 29.42 crore through this SME (Small and Medium Enterprises) offering.
The IPO is entirely a fresh issue of 4,086,400 shares, priced within the range of Rs 68 to Rs 72 per share. Investors can bid for a minimum of 1,600 shares and in multiples thereafter, making the total investment for the minimum lot size between Rs 108,800 and Rs 115,200 at the upper end of the price band.
Grey Market Premium (GMP) Soars
In the grey market, Jungle Camps India’s unlisted shares are trading at a strong premium of Rs 75, reflecting a 104.17% increase over the upper limit of the IPO price band of Rs 72. This suggests strong demand for the stock, and investors are closely watching its potential listing on the BSE SME platform. On the opening day of the IPO, the shares were quoted at Rs 147 per share in the unofficial market, signaling investor optimism.
Key Dates
IPO Subscription Window: December 10-12, 2024
Allotment Date: Friday, December 13, 2024
Demat Credit Date: Monday, December 16, 2024
Expected Listing Date: Tuesday, December 17, 2024
Funds Utilization
Jungle Camps India plans to utilize the funds raised from the IPO to finance capital expenditures for developing new projects at the Sanjay Dubri National Park in Madhya Pradesh. Additionally, part of the proceeds will go towards renovating its flagship resort, Pench Jungle Camp, located at the Pench National Park, also in Madhya Pradesh. This expansion and upgrade are expected to boost the company’s offerings in the growing eco-tourism sector.
Investment Outlook
The strong grey market premium and the company’s promising plans to expand its footprint in the eco-tourism sector make this IPO an attractive proposition for investors looking to diversify their portfolio into the tourism and hospitality space.
Investors looking to participate in the Jungle Camps India IPO can do so via their brokers or trading accounts before the window closes on December 12, 2024.