Pursuant to the provision of Regulation 30 of the SEBI (LODR) Regulations, 2015 please find the enclosed herewith copy of postal ballot notice dated 09th April 2025, together with the explanatory ....
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Awaiting price reaction for this filing.
Jungle Camps India Ltd (BSE: 544304) has issued a postal ballot notice dated 9 April 2025 seeking shareholder approval through e-voting (11 April to 10 May 2025) for a special resolution to vary its IPO prospectus dated 13 December 2024. The variation involves replacing the originally proposed vendor M/s Alpha Engineering (quoted ₹2,688.90 Lakhs) with M/s Kesar Engineering (quoted ₹2,601.91 Lakhs) for civil work, road, interior furniture, kitchen and related construction services for the Mathura Hotel Project being executed through subsidiary Madhuvan Hospitality Pvt Ltd. The company raised ₹2,942.21 Lakhs (gross) / ₹2,792.21 Lakhs (net) through its IPO, of which ₹1,150 Lakhs was earmarked for this Mathura project via the subsidiary. Management cites Kesar Engineering's better equipment, larger workforce and longer experience as justification, along with an estimated saving of about ₹86.99 Lakhs.
Minor positive for shareholders – the vendor switch saves roughly ₹87 Lakhs on the same scope of work without changing the original use of IPO funds or project timelines, indicating tighter cost execution on IPO proceeds. No material financial impact is expected from the change.