Jungle Camps India Limited advances IPO plans following BSE approval

Jungle Camps India Limited (JCIL) plans to raise approximately Rs 30 crore through an upcoming IPO, having received in-principal approval from the BSE SME exchange. The company is preparing to file its Red Herring Prospectus (RHP) with updated information and aims to be listed soon.

The IPO will consist of a fresh issue of 40,86,400 equity shares, each with a face value of Rs 10. The funds will be allocated as follows: Rs 7 crore for a new project at Sanjay Dubri National Park, Rs 3.5 crore for renovations at the Pench Jungle Camp, and Rs 11.5 crore for investments in its subsidiary, Madhuvan Hospitality Private Limited, which is developing a hotel in Mathura, Uttar Pradesh. The remaining proceeds will go towards general corporate purposes.

In the fiscal year 2023-24, JCIL reported revenues of Rs 18.10 crore and a profit of Rs 3.59 crore, marking a 61 per cent increase in revenue and an eight-fold rise in profit compared to the previous year. Khambatta Securities Limited is the Book Running Lead Manager for the IPO, while Skyline Financial Services Private Limited serves as the Registrar to the offer.