Imagicaaworld Entertainment Limited (IEL), India's premier themed entertainment destination, has announced a significant expansion of its footprint in Gujarat. The company's Board of Directors has approved the acquisition of 100% equity in Malpani Parks Ahmedabad Private Limited (MPAPL) for ₹75.00 crore, subject to shareholder approval. This strategic move is set to pave the way for the development of India's largest waterpark near Ahmedabad.

Strategic Acquisition Details

The ₹75.00 crore deal will be executed through a combination of share purchase and fund infusion towards liabilities, making MPAPL a wholly-owned subsidiary of IEL. This acquisition provides IEL with immediate access to 34 acres of prime non-agricultural land, boasting clear title and highway connectivity near Ahmedabad.

Expansion in Gujarat

This project marks IEL's third venture in Gujarat, following:

1. Aqua Imagicaa Water Park in Surat
2. The Sabarmati Riverfront project near Atal Bridge in Ahmedabad

The new waterpark is envisioned to feature world-class rides, slides, and attractions built to international standards, setting a new benchmark for entertainment infrastructure in India.

Strategic Importance

Mr. Jai Malpani, Director of Imagicaaworld Entertainment Limited, commented on the acquisition: "We are committed to creating best-in-class entertainment experiences for Indian consumers, and the Ahmedabad-Gandhinagar belt will now witness the launch of the country's largest water park. This investment reinforces our geographical growth strategy and strengthens our position as India's most trusted entertainment brand."

He further added, "We are quite excited with this landmark project which will clearly increase our dominance in Western India and enhance customer experience by many notches. This also reinforces our conviction of Gujarat as a hub for high quality entertainment and tourism."

Company's Recent Developments

IEL recently opened Aqua Imagicaa in Indore, expanding its presence in Central India. This move, along with the new Ahmedabad project, showcases the company's ambition to bring world-class entertainment to new geographies across the country.

About Imagicaaworld Entertainment Limited

Imagicaaworld Entertainment Limited owns and operates India's leading theme and water parks, including Imagicaa, Wet n' Joy, Sai Teerth, and Aqua Imagicaa at various locations. The company offers a wide range of experiences, from thrilling rides and water slides to spiritual attractions, catering to families and tourists of all ages.

With this latest acquisition, Imagicaaworld Entertainment Limited continues to strengthen its position in the Indian entertainment industry, focusing on geographical expansion and enhancing its offerings to meet the growing demand for high-quality entertainment experiences.

Imagicaaworld Entertainment Limited , a prominent player in the entertainment industry, has announced a strategic move to expand its footprint in Gujarat. The company's board has approved the acquisition of Malpani Parks Ahmedabad Private Limited (MPAPL) for a cash consideration of Rs 50.00 crore, subject to shareholder approval.

Acquisition Details

The acquisition involves purchasing 100% equity shares of MPAPL from Malpani Parks Private Limited (MPPL), a promoter of Imagicaaworld Entertainment. This related party transaction is set to be conducted at arm's length, based on an independent valuation report.

About the Target Company

MPAPL, incorporated on July 9, 2021, is yet to commence commercial operations. The company intends to develop a water park or entertainment park in Ahmedabad, Gujarat. For the financial year ended March 31, 2025, MPAPL reported a minimal turnover of Rs 19,786 in other income.

Strategic Rationale

Dhimant Bakshi, CEO of Imagicaaworld Entertainment, stated, "This acquisition aligns perfectly with our expansion strategy. It will accelerate our geographical expansion in Gujarat by providing us with strategic land parcels ideal for developing a larger water park project in the first phase."

Financial Implications

The transaction involves two key components:

1. Acquisition of 10,000 equity shares (100% stake) in MPAPL for Rs 50.00 crore.
2. Post-acquisition, Imagicaaworld plans to infuse up to Rs 30.00 crore as loans to MPAPL.

The total transaction value is capped at Rs 75.00 crore, demonstrating Imagicaaworld's significant commitment to this expansion.

Timeline and Approvals

The acquisition is expected to be completed by March 31, 2026, subject to various conditions:

• Shareholder approval
• Regulatory and statutory approvals
• Fulfillment of conditions precedent agreed between the parties

Market Impact

This move is expected to strengthen Imagicaaworld's presence in Gujarat, a state where the company already has operations. The acquisition of ready-to-develop land with clear titles is seen as a strategic advantage for rapid expansion in the region.

Governance and Transparency

The transaction has been approved by Imagicaaworld's Audit Committee and Board of Directors. As a material related party transaction, it will be subject to shareholder approval, ensuring transparency and adherence to corporate governance norms.

Imagicaaworld Entertainment's decision to acquire MPAPL represents a significant step in its growth strategy, potentially enhancing its position in the competitive entertainment and leisure industry in India.