Imagicaaworld Entertainment to buy Malpani Parks S Ahmedabad Pvt.

Imagicaaworld Entertainment to buy Malpani Parks S Ahmedabad Pvt.

Imagicaaworld Entertainment Limited, a prominent player in the entertainment industry, has approved the acquisition of Malpani Parks Ahmedabad Private Limited (MPAPL) for Rs 50 crore. This strategic move aligns with Imagicaaworld's expansion plans in Gujarat, particularly focusing on the development of a water park in Ahmedabad.

The acquisition involves purchasing 100% equity shares of MPAPL, which is yet to commence commercial operations. MPAPL aims to develop a water park or entertainment park in Ahmedabad. For the financial year ended March 31, 2025, MPAPL reported a minimal turnover of Rs 19,786 in other income. The acquisition is expected to complete by March 31, 2026, subject to shareholder and regulatory approvals.

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" [1].

The transaction involves two key components: the acquisition of 10,000 equity shares (100% stake) in MPAPL for Rs 50 crore, and post-acquisition, Imagicaaworld plans to infuse up to Rs 30 crore as loans to MPAPL. The total transaction value is capped at Rs 75 crore, demonstrating Imagicaaworld's significant commitment to this expansion [1].

The acquisition 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. The transaction has been approved by Imagicaaworld's Audit Committee and Board of Directors, ensuring transparency and adherence to corporate governance norms [1].

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.

References:
[1] https://scanx.trade/stock-market-news/corporate-actions/imagicaaworld-entertainment-to-acquire-water-park-developer-for-rs-50-crore/17424559