Tue Dec 17 04:50:00 UTC 2024: ## Jungle Camps IPO Debuts with Strong Listing, then Plummets
**Mumbai, Dec 17, 2024** – Jungle Camps India, whose IPO was oversubscribed by 494 times, saw a spectacular debut on the BSE SME platform today, opening at ₹136.80, a 90% premium over its IPO price of ₹72. However, the initial euphoria was short-lived. After reaching a high of ₹143.64, the stock plummeted to its lower circuit breaker at ₹129.96, where it eventually closed. This still represents an 80.50% gain for IPO investors on day one.
The ₹29.42 crore IPO, open for subscription from December 10-12, received an overwhelming response from investors across all categories: Qualified Institutional Buyers (QIBs) at 196.52 times, Non-Institutional Investors (NIIs) at 760.48 times, and retail investors at 551.2 times.
The company, established in 2002, operates wildlife camps and offers hotels, motels, inns, and other hospitality services. It boasts 87 rooms across various accommodations and provides banquet halls, meeting rooms, and other amenities.
Jungle Camps’ financial performance has shown significant growth. While net profit dipped to ₹44.92 lakh in FY23 from ₹72.86 lakh in FY22, it rebounded strongly to ₹3.59 crore in FY24. Revenue grew at a Compound Annual Growth Rate (CAGR) of over 52% to reach ₹18.11 crore during the same period. The company reported a net profit of ₹1.10 crore and revenue of ₹5.72 crore in Q1 FY25 (April-June 2024).
Funds raised through the IPO will be used for project development in Madhya Pradesh’s Sanjay Dubri National Park, renovation of the existing Pench Jungle Camp in Pench National Park (MP), capital expenditure for a hotel project in Mathura (UP), investment in its subsidiary Madhuvan Hospitality Private Limited, and general corporate purposes.
First Piper 