Jungle Camps India Publishes Postal Ballot Notice; E-Voting Opens May 10, 2026
Jungle Camps India Limited published its Postal Ballot Notice in Financial Express and Jansatta on May 9, 2026, with remote e-voting through CDSL scheduled from May 10 to June 8, 2026, and results to be declared on or before June 10, 2026. The board had earlier approved key resolutions including expanding the Mathura Hotel project from 60 to 105 rooms at a revised cost of Rs. 4900 Lakhs, reallocating Rs. 700 Lakhs of IPO proceeds to the Sheopur Fort Heritage Hotel, and recommending an increase in borrowing limits to Rs. 70 Crore, all subject to shareholder approval via Postal Ballot.
*this image is generated using AI for illustrative purposes only.
The Board of Directors of Jungle Camps India Limited , formerly known as Pench Jungle Resorts Private Limited, convened on May 7, 2026. The meeting, which commenced at 01:00 PM and concluded at 04:23 PM, approved several key resolutions. These include material variations to the prospectus dated December 12, 2024, and the appointment of a scrutinizer for the postal ballot and e-voting process. The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Subsequently, the company published its Postal Ballot Notice as a newspaper advertisement on May 9, 2026, in Financial Express and Jansatta, as communicated to BSE Limited.
Postal Ballot and E-Voting Process
The board appointed Mr. Shivam Agarwal of M/s Shivam Agarwal & Associates (ACS No. 49447, COP No. 17959) to act as the Scrutinizer for the postal ballot and e-voting process. This appointment is pursuant to Section 108 and 110 of the Companies Act, 2013, read with Rule 20 and 22 of the Companies (Management and Administrations) Rules, 2014. The company dispatched the Postal Ballot Notice to eligible members on May 8, 2026, with a cut-off date of May 7, 2026 for determining member eligibility. E-voting is facilitated through Central Depository Services (India) Limited (CDSL) to ensure a fair and transparent voting process.
The key timelines for the e-voting process are as follows:
| Parameter: | Details |
|---|---|
| Notice Dispatch Date: | May 8, 2026 |
| Cut-off Date: | May 7, 2026 |
| E-Voting Start: | May 10, 2026, 09:00 AM (IST) |
| E-Voting End: | June 8, 2026, 05:00 AM (IST) |
| Result Declaration: | On or before June 10, 2026 |
| Newspaper Advertisement: | Financial Express and Jansatta (May 9, 2026) |
The Postal Ballot Notice is available on the company's website at https://junglecampsindia.com/postal-ballot/ , on CDSL's website at www.evotingindia.com , and on the BSE SME Limited website. Results, along with the Scrutinizer's report, will be published on the company's website, the BSE SME platform, and CDSL's results portal, and will also be displayed at the company's registered office notice board. The communication was signed by Managing Director Gajendra Singh (DIN: 00372112) from New Delhi.
Contractor Change for Mathura Hotel Project
The board approved replacing Kesar Construction with Moonwalk Infraprojects Private Limited (CIN: U70109DL2012PTC242171) as the civil contractor for the Mathura Hotel Project. The decision follows documented performance failures by the previous contractor, including failure to mobilize equipment and achieve construction milestones. Moonwalk Infraprojects was selected through a competitive process involving five contractors.
Expansion of Mathura Hotel Project
Following a technical assessment, the board approved expanding the Mathura Hotel project scope from 60 rooms to 105 rooms, including a banquet facility. The revised total project cost has increased from Rs. 3250 Lakhs to Rs. 4900 Lakhs. The head-wise cost breakdown includes Rs. 1,557.69 Lakhs for civil work, Rs. 1,645.98 Lakhs for MEP works, and Rs. 1,196.22 Lakhs for interior work.
| Floor: | Area (Sq. Ft.) | Details |
|---|---|---|
| Basement 2 (B-2): | 10,343 | Parking, MEP Plant, Utilities |
| Basement 1 (B-1): | 10,195 | Parking, Laundry, Back-of-House |
| Ground Floor: | 10,591 | Restaurant, Lobby, Reception |
| First Floor: | 10,483 | Banquet Hall, Pre-function Area |
| Third to Seventh Floor: | 9,298 each | Hotel Rooms (105 total) |
| Total: | 100,163 | 105 Rooms + Banquet Hall |
Reallocation of IPO Proceeds
The board approved the reallocation of Rs. 700 Lakhs of IPO proceeds from the stalled Parsili project to the Sheopur Fort Heritage Hotel. The Parsili project is pending regulatory clearances. The Sheopur project, located on a 1.369 Hectare leased property, involves the adaptive reuse of a 500-year-old fort into a 60-room boutique hotel with a total project cost of Rs. 36.97 Crore.
Enhancement of Borrowing Powers
The board approved recommending an increase in the overall borrowing limit to Rs. 70 Crore under Section 180(1)(c) of the Companies Act, 2013. Shareholder approval for these resolutions, including the creation of charges on assets, will be sought via Postal Ballot.
Historical Stock Returns for Jungle Camps
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.29% | -7.44% | +17.45% | -7.23% | +13.39% | -57.53% |
How might the expansion of the Mathura Hotel Project from 60 to 105 rooms impact Jungle Camps India Limited's revenue projections and timeline for achieving profitability post-IPO?
What are the potential risks to the Sheopur Fort Heritage Hotel project given that it involves adaptive reuse of a 500-year-old fort, and could heritage conservation regulations further delay or increase costs beyond the estimated Rs. 36.97 Crore?
Will the reallocation of IPO proceeds away from the Parsili project and the increase in borrowing limits to Rs. 70 Crore raise concerns among retail investors about deviations from the original IPO use-of-funds commitment?
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