Business Update18 Jun 2026, 08:10 pm
Jungle Camps: ₹1.22 Cr Premium Refunded, IPO Funds Redeployed
AI Summary
Jungle Camps India Ltd has announced the cancellation of its land lease agreement in Village Parsili, Madhya Pradesh, due to the land falling within a protected sanctuary. Consequently, the company will receive a refund of its upfront premium of ₹1.22 crore and its performance security of ₹50 lakh. The company has also sought a refund of GST and lease rentals paid. Crucially, the IPO proceeds originally earmarked for the Parsili project have been reallocated, with shareholder approval, to the Sheopur Fort Heritage Hotel project, where construction has commenced. This strategic shift ensures the overall deployment of IPO funds remains on schedule.
Key Highlights
- Lease for Parsili land cancelled; ₹1.22 Cr premium to be refunded.
- Performance security of ₹50 Lakh to be returned without encashment.
- IPO proceeds reallocated to Sheopur Fort Heritage Hotel project.
- Construction at Sheopur Fort project has commenced.
- No material adverse financial impact expected from cancellation.
Price Impact
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