Imagicaaworld soars after acquiring four parks operated by Malpani Group

Imagicaaworld Entertainment jumped 6.57% to Rs 82.22 after the company announced the execution of definitive agreements for acquisition of 4 high quality parks operated by Malpani Group.

The parks that have been acquired include 'Wet N Joy Water Park and 'Wet N Joy Amusement Park, both located at Lonavala, Maharashtra, along with 'Saiteerth Devotional Theme Park and 'Wet N Joy Water Park, situated at Shirdi, Maharashtra.

Effective 1 April 2024, all revenues generated by these parks will flow directly to Imagicaaworld Entertainment, translating to a significant enhancement of overall financials.

"This strategic integration marks a pivotal moment for the company as it broadens its reach and offerings in the leisure and hospitality market, Imagicaaworld said in a statement.

With this integration, the companys total portfolio now includes 7 operational parks and 1 five-star hotel. The overall revenues are projected to increase by 1.5x and EBITDA by 2x, indicating the immense value creation ahead.

Furthermore, resultant to this expansion, footfalls are expected to double, effectuating the company's commitment to offer exceptional entertainment experiences across various catchments.

Jai Malpani, managing director, Imagicaaworld Entertainment, said: Imagicaaworld Entertainment is on an exciting path of geographical expansion, extending our unique entertainment experiences to a broader audience.

Our strategic growth enriches our diverse offerings, including theme parks, amusement parks, devotional parks, and water parks, catering to various guest preferences.

This expansion leverages the strengths of our diverse locations to create operational synergies, enhance efficiency, and deliver exceptional value. Our aim is to make Imagicaaworld Entertainment brand world-class leisure destination across India and beyond, providing seamless and memorable experiences.

Imagicaaworld Entertainment owns and operates Imagicaa - one of Indias leading holiday destinations and offers a gamut of interesting experiences through its portfolio of parks which now include an all weather Theme Park in Khopoli, Water Parks in Shirdi, Lonavala, Khopoli, and Surat, an Amusement Park in Lonavala, and a unique religious theme park in Shirdi.

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