Imagicaaworld Entertainment Limited has announced its expansion in Gujarat with the strategic acquisition of Malpani Parks Ahmedabad Private Limited (MPAPL). This move will facilitate the development of India's largest waterpark near Ahmedabad. The company's Board of Directors has approved the acquisition of 100% equity in MPAPL.
The proposed acquisition 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 project marks IEL's third venture in Gujarat, following Aqua Imagicaa Water Park in Surat and the Sabarmati Riverfront project near the Atal Bridge in Ahmedabad.
This acquisition provides IEL with immediate access to 34 acres of non-agricultural land with clear title, highway frontage, and connectivity. The new Water Park is planned to feature world-class rides, slides, and attractions built to international standards.
Mr. Jai Malpani, Director of Imagicaaworld Entertainment Limited, stated that this investment reinforces the company's geographical growth strategy and strengthens its position as India's trusted entertainment brand. The Ahmedabad-Gandhinagar belt will witness the launch of the country's largest water park, enhancing customer experience and reinforcing 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. The company recently opened Aqua Imagicaa in Indore, further strengthening its presence in Central India.
Imagicaaworld Entertainment Limited (BSE: 539056; NSE: IMAGICAA) owns and operates India's leading theme and water parks, including Imagicaa, Wet n' Joy, Sai Teerth, and Aqua Imagicaa at various locations.
For more information, contact:
Company: Imagicaaworld Entertainment Limited
Mr. Khelan Shah
E-mail: khelan.shah@imagicaaworld.com
Investor Relations: Strategic Growth Advisors
Mr. Ayush Haria / Ms. Ami Parekh
Contact: +91 98204 62966 / +91 80824 66052
E-mail: ayush.haria@sgapl.net / ami.parekh@sgapl.net
Safe Harbour statement:
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
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