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Imagicaaworld Entertainment has received approval from its Board of Directors to acquire four operational parks in Maharashtra located in Lonavala and Shirdi and one under construction Water Park in Indore for a total consideration of Rs 770 crore payable over a period of 2.5 years, subject to shareholder’s and other regulatory approvals.
This move is part of the Malpani Group's vision to consolidate the portfolio of current and future entertainment businesses under the listed entity Imagicaaworld Entertainment. It represents a strategic effort to broaden its pan-India presence. It will help streamline operational efficiencies and enhance focus on the parks business by consolidating all parks under one company. Of the four existing parks, two are water parks, one amusement park and one unique devotional theme park. These are profitable parks operating under the brand of Wet’n Joy and Sai Teerth. The four operational parks have reported revenue of Rs 124.7 crore and EBIDTA of Rs 72.6 crore, having an excellent EBITDA margin of 58% in FY23.
The company is also acquiring a near to completion park in Indore, which is planned to be completed in Q1 FY25. All the above parks have been developed by the Malpani Group with their deep expertise and are extremely popular in their respective catchments. The master planning of the parks had been carried out by top of the line architects and many of the rides imported from reputed suppliers across US, Canada, Italy, Germany, etc. The company aims to complete the acquisition in the next two months, subject to completion of all necessary approvals.
Imagicaaworld Entertainment is engaged in the business of development and operations of theme-based entertainment destinations in India, including theme parks, water parks and associated activities including retail merchandising and food and beverages.
| Company Name | CMP |
|---|---|
| Wonderla Holidays | 853.95 |
| Imagicaaworld Enter | 78.58 |
| Nicco Parks & Resort | 146.75 |
| Hanman Fit | 4.02 |
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