Imagicaaworld Entertainment Limited has entered into a significant investment agreement to acquire a 50% stake in Mehsana Next Parks Private Limited (MNPPL) for ₹50 Crores. MNPPL is the Special Purpose Vehicle that owns and operates ‘Shanku’s Water Park’ in Mehsana, Gujarat. This strategic move aims to expand Imagicaa’s presence in Gujarat’s growing tourism market and leverage its expertise in park operations.
Imagicaaworld Entertainment Expands Gujarat Footprint with Strategic Acquisition
Imagicaaworld Entertainment Limited has announced a key strategic investment, signing an agreement to acquire a 50% equity stake in Mehsana Next Parks Private Limited (MNPPL). The total consideration for this acquisition is set at ₹50 Crores. MNPPL is the entity responsible for the operation and expansion of ‘Shanku’s Water Park’ located in Mehsana, Gujarat.
Transaction Details and Strategic Rationale
The investment will be made through an INR 50 Crores infusion into MNPPL, which currently owns Shanku’s Water Park through a slump sale arrangement. This deal effectively grants Imagicaaworld Entertainment a 50% ownership in MNPPL. The Special Purpose Vehicle is also expected to raise additional capital over the next 12-18 months for the development of new attractions and facilities.
In addition to the equity stake, Imagicaaworld Entertainment will provide Operations & Management (O&M) services to MNPPL. This leverages the company’s extensive expertise in park operations, guest experience, safety systems, food & beverage management, and revenue optimization. As part of the O&M agreement, Imagicaaworld will receive management fees ranging from 6%-10% based on agreed parameters.
Management Commentary on the Acquisition
Commenting on the acquisition, Jai Malpani, Managing Director of Imagicaaworld Entertainment Limited, stated, “This investment marks an important milestone in our strategy to deepen our presence in Gujarat, one of India’s fast-growing leisure and tourism markets and gives us the opportunity to participate in the next phase of growth of a well-established destination. We look forward to enhancing guest experiences, driving footfalls and creating long-term value for all stakeholders vide this unique association.”
About Shanku’s Water Park
Shanku’s Water Park, situated in Mehsana, Gujarat, is recognized as one of the state’s well-established water parks. It serves key catchment areas including Ahmedabad, Mehsana, and Gandhinagar. The park spans over 25+ acres and boasts a portfolio of over 25 high-quality rides and attractions, positioning it as Gujarat’s largest water park. The facility has recently undergone extensive renovation and modernization, incorporating advanced water filtration systems comparable to those at Imagicaa’s flagship Khopoli property.
Source: BSE
