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Jungle Camps India Limited (JCIL), an India-based ecological hospitality service provider on Thursday announced the pricing details for its Initial Public Offering (IPO).
The IPO, comprising a fresh issue of 4,086,400 equity shares with a face value of ₹10 each, is set to open for subscription on December 10, 2024, and close on December 12, 2024.
The anchor book for institutional investors will open a day earlier, on December 9, 2024.
The price band for the IPO has been set at ₹68-₹72 per share, with an estimated fundraising target of approximately ₹29.42 crores.
JCIL’s IPO has allocated 35% of the shares to retail investors, 50% to Qualified Institutional Buyers (QIB), and 15% to High Net-worth Individuals (HNIs). Post-IPO, the company’s shares will be listed on the BSE SME platform.
The proceeds from the IPO will be directed towards key strategic initiatives aimed at scaling JCIL’s presence and operations across India. These include:
Development of New Project: ₹7.00 crore will be allocated to establish a new resort at Sanjay Dubri National Park in Madhya Pradesh, expanding JCIL’s footprint in ecological tourism.
Renovation of Existing Property: ₹3.50 crore is earmarked for upgrading Pench Jungle Camp, located within Pench National Park, Madhya Pradesh, to enhance the guest experience.
Investment in Subsidiary: ₹11.50 crore will be invested in JCIL’s subsidiary, Madhuvan Hospitality Private Limited, to develop a 4-star hotel in Mathura, Uttar Pradesh.
Khambatta Securities Limited is acting as the sole Book Running Lead Manager for the offering, while Skyline Financial Services Private Limited will oversee the share allocation as the Registrar.