Introduction to Jungle Camps India: Jungle Camps India is a collection of wildlife and conservation-focused lodges offering immersive experiences set amidst the pristine wilderness. These award-winning lodges, including Sanjay Dubri National Park and Pench National Park, aim to redefine luxury through bespoke wildlife programs. The company provides unique, restorative experiences, allowing travelers to connect with nature and witness the magnificence of Indian wildlife up close.

Jungle Camps India IPO Overview: The Jungle Camps India IPO is a book-built issue worth ₹29.42 Crores, consisting of a fresh issue of 40.86 lakh shares. The share price band is set at ₹68 to ₹72 per equity share, and the market capitalization at the upper price band will be ₹111.58 crores. The lot size for the IPO is 1,600 shares, with retail investors required to invest a minimum of ₹1,15,200.

• Subscription Period: December 10–12, 2024
• Allotment Date: December 13, 2024
• Listing Date: December 17, 2024
• Lead Manager: Khambatta Securities Limited
• Registrar: Skyline Financial Services Private Limited

IPO Subscription Status & GMP: As of December 12, 2024, the IPO has been subscribed 166.54 times on its final day of the subscription period. This high demand reflects investor confidence in the company's growth potential.

• GMP Trend (Grey Market Premium):
  • December 10, 2024: ₹53 (73.80% listing gain)
  • December 9, 2024: ₹51 (70.59% listing gain)
  • December 6, 2024: ₹44 (60.93% listing gain)
  • December 4, 2024: ₹44 (60.93% listing gain)
  • December 3, 2024: ₹14 (19.44% listing gain)

The GMP of ₹53 indicates strong investor demand and suggests a potential listing gain of 73.80%. However, it is important to note that the GMP is based on unofficial market trends and is only for informational purposes.

Financial Performance: The company has shown impressive growth in the last three fiscal years:

• Revenue from Operations: ₹1,810.61 lakhs (FY24), ₹1,124.55 lakhs (FY23), ₹781.17 lakhs (FY22)
• EBITDA: ₹668.45 lakhs (FY24), ₹165.71 lakhs (FY23), ₹189.18 lakhs (FY22)
• Profit After Tax (PAT): ₹359.16 lakhs (FY24), ₹44.92 lakhs (FY23), ₹72.86 lakhs (FY22)

The EBITDA growth in FY24 reflects strong operational efficiency and profitability. The PAT surge further highlights the company's upward growth trajectory, making it an attractive investment.

Valuation and Price Metrics:

• Pre-issue EPS: ₹7.82
• Post-issue EPS: ₹2.32
• Pre-issue P/E ratio: 9.21x
• Post-issue P/E ratio: 31.07x

Comparing the post-issue P/E with the industry’s P/E ratio of 121.98x, the IPO appears undervalued. Additionally, the ROCE for FY24 is 24.75%, and ROE is 20.01%, indicating healthy returns on capital and equity.

IPO Objectives: The funds raised from the fresh issue will be used for the following purposes:

1. Capital expenditure at Sanjay Dubri National Park (₹700.00 lakhs)
2. Renovation of Pench Jungle Camp (₹350.00 lakhs)
3. Investment in subsidiary Madhuvan Hospitality Private Limited for Mathura Hotel Project (₹1,150.00 lakhs)
4. General corporate purposes.

How to Check Allotment Status: To check the allotment status for Jungle Camps India IPO:

1. Visit the registrar’s website (Skyline Financial Services Private Limited).
2. Select Jungle Camps India IPO from the dropdown list.
3. Enter your application number, PAN, or DP Client ID.
4. Submit to check your allotment status.

Jungle Camps India IPO Review and Investment Insights: The Jungle Camps India IPO is offering a great opportunity for listing gains, with a GMP of ₹53 indicating a potential listing gain of 73.80%. Given the strong financial performance and fair valuation of the company, we recommend this IPO for risk-tolerant investors looking for listing gains or long-term investment in the sustainable tourism sector.

Conclusion: Jungle Camps India’s unique business model, focus on wildlife conservation, and growing financials make it an exciting investment option. With strong subscription demand and the potential for strong listing gains, this IPO is recommended for those seeking quick gains as well as those with a long-term investment view in the growing eco-tourism industry.