Jungle Camps India IPO opens today, raises Rs 8.3 crore from anchor investors

The IPO of Jungle Camps India Limited, a New Delhi-based company, begins on December 10, and will conclude on December 12, 2024. The one of the leading experiential ecological hospitality groups in India, has successfully completed its anchor book subscription and has raised Rs 8.3 crore through the sale of 11.63 lakh equity shares priced at Rs 72 each.

The price band of the issue is Rs 68-72 per equity share with a face value of Rs 10 apiece. The company’s IPO comprises a fresh issue of 40.86 lakh equity shares with a face value of Rs 10 through the book-building route. Khambatta Securities Limited is the sole book running lead manager, and Skyline Financial Services Private Limited is the registrar to the offer

Source: Press release

The Jungle Camps India is looking to raise approximately Rs 29.42 crore from the offering. The company intends to utilise Rs 7 crore of the net IPO proceeds for developing a new project at Sanjay Dubri National Park, Rs 3.5 crore for renovating the existing resort at Pench National Park, both located in Madhya Pradesh, and plans to invest Rs 11.5 crore in its subsidiary company – Madhuvan Hospitality Private Limited, to develop a hotel at Mathura in Uttar Pradesh. The remaining capital will be used for general corporate purposes.

The company has allotted 2.04 lakh equity shares for Market Maker, 11.63 lakh equity shares for anchor investors, 19.4 lakh equity shares allocated for QIBs, 5.82 lakh equity shares for NIIs, and the Retail (RII) portion accounts for 13.58 lakh equity shares.

A group of marquee investors, including M7 Global Fund PCC - Nolana, Vikasa India EIF 1 Fund – Share Class P, Saint Capital Fund, and Zeta Global Funds (OEIC) PCC Limited - Zeta Series B Fund PC subscribed to the anchor book.

While M7 Global Fund PCC – Nolana and Vikasa India EIF 1 Fund – Share Class P subscribed 27.51% each of the anchor book, Saint Capital Fund subscribed 24.07% and Zeta Global Fund (OEIC) PCC Limited-Zet Series B Fund PC subscribed 20.91% of the anchor book portion.

Founded in 2002 by Gajendra Singh Rathore, Jungle Camps India Limited is a conservation-focused hospitality company that offers immersive wildlife experiences in India’s pristine natural reserves. JCIL operates award-winning properties at prestigious wildlife reserves, including Pench Tiger Reserve, Kanha Tiger Reserve, Rukhad Buffer Zone of Pench Tiger Reserve, and Tadoba Tiger Reserve. The company is renowned for curating exceptional hospitality experiences in remote and tranquil forest settings, where guests can enjoy wildlife safaris in the heart of India’s biodiversity.

Currently, the company, along with its subsidiaries, owns and manages 87 room accommodations across various types, including villas, cottages, deluxe rooms, and safari tents. JCIL is also in the process of expanding its portfolio with four additional hospitality projects, which will bring a further 170 accommodations under its management, including boutique wildlife resorts and a heritage hotel. Upon completion, JCIL will manage a total of seven properties, including luxury resorts and a highway motel with an integrated restaurant.

JCIL has received multiple awards for its exceptional hospitality, including the “Best Ecofriendly Hotel” by MP Tourism (2018). Kanha Jungle Camp and Tadoba Jungle Camp, two of JCIL’s properties, have been named among TripAdvisor’s Top 25 Small Hotels in India for 2023 and 2024. These accolades reflect the company’s commitment to sustainable, eco friendly tourism and delivering top-tier wildlife experiences.