Imagicaaworld Entertainment Announces Strategic Investment of Up to INR 100 Crore in Shanku's Water Park
Imagicaaworld Entertainment Limited, a leading player in India's amusement and water park sector, has announced a strategic investment into Shanku's Water Park in Gujarat. The company's Board of Directors approved the investment of up to INR 100 crore in the landmark destination near Ahmedabad.The investment will be channeled through Mehsana Next Parks Private Limited ('MNPPL'), the Special Purpose Vehicle (SPV) that will own and operate Shanku's Water Park. The proposed capital infusion will utilize a combination of equity contribution and debt securities. Furthermore, the funds are earmarked for additional capital intended for future expansion and the development of new attractions and facilities on surplus land adjoining the existing water park.
Beyond the financial commitment, Imagicaaworld will also manage the operations of Shanku's Water Park. The company will provide comprehensive Operations & Management services, leveraging its expertise in park operations, guest experience, safety systems, food & beverage management, and revenue optimization. As part of this Operational & Maintenance (O&M) arrangement, Imagicaaworld will receive management fees ranging from 6% to 10% for its operational expertise.
Shanku's Water Park, situated in Mehsana, Gujarat, is recognized as one of the state's well-established water parks. Spanning over 25 acres, the park features a strong portfolio of more than 25 high-quality rides and attractions, positioning it as Gujarat's largest water park destination. The facility has recently completed extensive renovation and modernization, including the deployment of advanced water filtration systems comparable to those used at Imagicaaworld's Khopoli property. The park benefits from strong access to the large catchment markets of Ahmedabad, Mehsana, Gandhinagar, and the surrounding regions.
Jai Malpani, Managing Director of Imagicaaworld Entertainment Limited, commented that the transaction is a significant milestone in the company's growth strategy. He noted that the investment deepens Imagicaaworld's footprint in Gujarat, described as one of India's fastest-growing leisure and tourism markets.
Malpani added that Shanku's Water Park is strategically located within a one-hour radius of Ahmedabad and GIFT City, placing the asset at the junction of commercial growth and burgeoning weekend tourism. He stated that the partnership aims to use Imagicaaworld's brand capabilities and operational expertise to enhance guest experiences, drive footfalls, and create long-term value for all stakeholders.
Imagicaaworld Entertainment Limited is known for owning and operating India's premier theme and water parks, including Imagicaa, Wet'n Joy, Sai Teerth, and Aqua Imagicaa. The company caters to families and tourists of all ages with a diverse array of experiences, ranging from thrilling rides to spiritual attractions.
IMAGICAA Stock Price Movement
As of 12:05 PM, shares of Imagicaaworld Entertainment Limited are shedding 1.78% in live trading, currently priced at ₹42.45. The stock is witnessing high volatility, with a total traded volume reaching 664,695 shares today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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