Imagicaaworld Entertainment announces strategic acquisition to develop India's Largest Waterpark near Ahmedabad

Imagicaaworld Entertainment Limited ("IEL"/ "the Company"), India's premier themed entertainment destination, announced a significant expansion move in the vibrant state of Gujarat. The Company's Board of Directors has approved the acquisition of 100% equity in Malpani Parks Ahmedabad Private Limited (MPAPL), a step that secures strategic land ownership for the development of India's largest waterpark near Ahmedabad.

The proposed acquisition, which is subject to shareholders approval, is valued at ₹75 crore, and will be executed through a combination of share purchase and fund infusion towards liabilities, making MPAPL a wholly owned subsidiary of IEL. This will mark IEL's third unique project in Gujarat after Aqua Imagicaa Water Park in the heart of Surat and the Sabarmati Riverfront project near the Atal Bridge in Ahmedabad, thus demonstrating its growing commitment to the state's thriving tourism and entertainment landscape.

Through this acquisition, IEL gains immediate access to prime non-agricultural land of 34 acres with clear title, highway frontage and connectivity, enabling the Company to accelerate development timelines and establish a flagship destination. The new Water Park is envisioned to house world-class rides, slides, and attractions built to international standards, setting a new gold benchmark for entertainment infrastructure in India.

Commenting on the development, Mr. Jai Malpani, Director, Imagicaaworld Entertainment Limited, said: "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. 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."

With this expansion, IEL aims to deepen market penetration, diversify its entertainment offerings, and generate long-term value for stakeholders while catalyzing tourism and consumer spends in Gujarat. Notably, the Company recently opened Aqua Imagicaa in Indore, further strengthening its presence in Central India and showcasing its ambition to bring world-class entertainment to newer geographies across the country.

Shares of Imagicaaworld Entertainment Limited was last trading in BSE at Rs. 57.59 as compared to the previous close of Rs. 58.01. The total number of shares traded during the day was 70792 in over 616 trades.

The stock hit an intraday high of Rs. 58.20 and intraday low of 57.31. The net turnover during the day was Rs. 4086072.00.

Source : Equity Bulls

Keywords

ImagicaaworldEntertainment INE172N01012 Expansion Gujarat