Intimation under Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015_Variation in the Prospectus Dated 13th December 2024.
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Jungle Camps India has informed the BSE that its Board approved a variation in the IPO prospectus dated 13 December 2024, replacing three originally selected vendors (Alankaram, Jaipur Rugs, Millennium Hardware) with a single new vendor, Shivaay Luxury Living LLP, for the renovation of its Pench Jungle Camp property. The renovation was earmarked at ₹350 Lakh from IPO funds, and the vendor switch is expected to save about ₹11.77 Lakh in total (₹9.13 Lakh on furniture, ₹0.75 Lakh on furnishings, ₹1.90 Lakh on lighting). The company cited better pricing, quality, and delivery timelines as the reason for the change. Since this is a variation in the IPO prospectus, shareholder approval is being sought via a postal ballot, with CDSL providing e-voting facilities and Mr. Shivam Agarwal appointed as scrutinizer.
The vendor change is a positive, cost-saving move that improves efficiency in deploying IPO proceeds, but it requires shareholder approval through a postal ballot. Short-term share price impact is likely minimal, though transparent use of IPO funds and shareholder democracy through the postal ballot process reflect good governance.