Imagicaaworld Entertainment Limited has entered into an investment agreement to acquire a 50.002% stake in Mehsana Next Parks Private Limited (MNPPL) for ₹50 crore, marking its expansion into the Gujarat market. The transaction, disclosed on July 31, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, positions the company to operate Shanku’s Water Park through a joint venture with Keshav Holiday Resort Private Limited (KHRPL), a part of the Shanku Group. This move allows Imagicaaworld to leverage regional expertise while entering a new geography in the outdoor entertainment sector.

The deal structure involves MNPPL, a special purpose vehicle (SPV) formed for this purpose and currently a subsidiary of KRHL, acquiring Shanku’s Water Park from KHRPL on a 'slump sale basis'. Imagicaaworld has executed a deed of adherence to the business transfer agreement dated July 30, 2026, binding itself to the terms of the acquisition. The consideration is entirely cash-based, and the transaction is not classified as a related party transaction. Upon completion, MNPPL will become a subsidiary of Imagicaaworld.

Transaction Details

MNPPL was incorporated on February 12, 2025, and reported nil turnover for the financial year ended March 31, 2026, as it is an SPV created specifically for this venture. The company stated that the acquisition aligns with its strategy to expand existing business operations by associating with an existing regional player in the outdoor entertainment park business.

Governance and Board Composition

Under the terms of the investment agreement, governance of MNPPL will be shared between the partners. Both Imagicaaworld and KHRPL have the right to appoint two directors each to the board of MNPPL. Additionally, the parties will appoint one independent director by consensus. This structure ensures balanced operational control and management oversight for the joint venture.

Regulatory Approvals and Timeline

The transaction is subject to the fulfillment of conditions precedent as agreed between the parties, along with any necessary statutory, regulatory, or third-party approvals. Imagicaaworld indicated that the acquisition is likely to be completed on or before September 30, 2026. The disclosure was made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, updated on January 30, 2026.

Other Developments

In a separate update regarding its broader expansion plans, Imagicaaworld informed stock exchanges that the proposed acquisition of 100% equity shares of Malpani Parks Ahmedabad Private Limited (MPAPL) from Malpani Parks Private Limited has not been executed as of March 31, 2026. This follows a previous intimation dated August 22, 2025, concerning the outcome of the board meeting held on that date.

Imagicaaworld Entertainment has reported a footfall of 11.54 lakhs for Q1 FY27, reflecting a robust year-on-year increase of 22%. The performance underscores growing visitor traction at the company's entertainment destinations during the first quarter of the fiscal year, despite intense summer conditions and prolonged heatwaves in catchment areas.

Q1 FY27 Footfall Performance

The company's visitor numbers for Q1 FY27 demonstrated meaningful growth compared to the corresponding period of the previous year. The 22% rise in footfall to 11.54 lakhs signals continued consumer interest in the company's offerings.

The reported footfall figure of 11.54 lakhs marks a notable uptick in visitor volumes, reinforcing the company's position in the domestic entertainment and leisure sector.

Operational Updates

Novotel Imagicaa reported an occupancy rate of 63% for Q1 FY27, compared to 65% in the same period last year. The hotel continued to witness healthy occupancy, supported by the school vacation season, destination weddings, corporate events, and strong demand from guests visiting Imagicaa parks.

Strategic Developments

The company is in the final stages of concluding a transaction for Shanku's Water Park. This asset-light arrangement involves partnering with existing owners to expand offerings while undertaking Operations & Maintenance (O&M) to earn management fees. Additionally, its wholly owned subsidiary, Imagicaa Next Private Limited (INPL), signed a Letter of Intent (LOI) for a second Hello Park location at Phoenix Mall's upcoming development in Surat. The proposed indoor entertainment centre will span approximately 9,000 sq. ft. Construction for the first Hello Park at Hyderabad is progressing as planned, with commercial operations expected to commence within Q3 FY27.