There is another opportunity to earn from the market. You can try your hand in another upcoming IPO. Yes, Jungle Camps India Limited has announced to fix the price band of Rs 68-72 per share for its IPO on Wednesday. This IPO will open for bidding or subscription on 10th December and will close on 12th December. According to PTI news, this is an SME IPO. The initial public offering (IPO) involves a fresh issue of 4,086,400 equity shares of face value Rs 10 each to be listed on BSE Small and Medium Enterprises (SME).
29. Preparation to raise Rs 42 crore
According to the news, Jungle Camps India Limited, a company that provides wildlife and conservation-focused lodges to guests, is set to raise about Rs 29.42 crore through an IPO. The company will use this amount for its expansion plans. An attempt to intensify the presence of our brand. Rs 7 crore of the proceeds will be used for the development of a new project in the Sanjay Dubri National Park in Madhya Pradesh, while Rs 3.5 crore will be used for the restoration of its existing resort, Pench Jungle Camp, located in the Pench National Park in Madhya Pradesh. Will go.
35 percent shares will be allotted to retail investors
The company intends to invest Rs 11.5 crore in its subsidiary Madhuvan Hospitality Pvt Ltd to develop a 4-star hotel in Mathura, Uttar Pradesh. The rest of the capital will be used for general corporate purposes. Jungle Camps India said 35 per cent of the shares will be allotted to retail investors, 50 per cent to qualified institutional buyers (QIBs) and 15 per cent to high net worth individuals (HNIs).
Image Credit: India-Tv.