Imagicaaworld Entertainment Ltd Share Price – NSE  /  BSE

Entertainment, Small Cap

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 company’s 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 own’s and operates Imagicaa - one of India’s 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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Imagicaaworld Entertainment announced execution of definitive agreements for acquisition of 4 high quality parks operated by Malpani Group owned entity (Giriraj Enterprises) namely WetNJoy & Sai Teerth Parks into its existing portfolio. This was pursuant to minority shareholders voting emphatically in favour of the transactions during the recent Extraordinary General Meeting held on 18 March 2024. The underlying parks include: (A) WetNJoy Water Park and (B) WetNJoy Amusement Park, both located at Lonavala, Maharashtra, along with (C) Saiteerth Devotional Theme Park and (D) WetNJoy Water Park, situated at Shirdi, Maharashtra.

Effective 01 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.

With this integration, the Company's 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.

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The project entails overall investment of Rs 130 crore, including any sub-lessee & alliance partner capex. The offerings include multiple indoor and outdoor attractions, apart from F&B offerings. The location is expected to commence operations in two years from ground breaking and all requisite approvals.

The park will be set up across 11 acres of land which will be on lease from Sabarmati Riverfront Development Corporation (SRFDCL) for 30 years, extendable for further period on mutually agreed terms.

The company endeavors to provide unparalleled experience to guests by collaborating with international partners as stipulated in the bid. The objective is to combine expertise with a view to bring world class entertainment in Ahmedabad and nearby cities, ensuring a holistic and enjoyable experience for visitors of all ages.

Jai Malpani, managing director, Imagicaaworld Entertainment, said: As we embark on this exciting endeavor to bring a world-class entertainment destination after several months of efforts to the heart of Ahmedabad, I am thrilled to announce Imagicaa’s commitment to creating unforgettable experiences for all visitors to this iconic location.

Imagicaa’s high popularity as a brand in Gujarat and diverse array of indoor and outdoor attractions, we are confident that the project will become a Landmark destination and contribute to the vibrant spirit of Ahmedabad.”

Imagicaaworld Entertainment owns and operates Imagicaa - one of India’s leading holiday destinations and offers a gamut of interesting experiences through its theme park, water parks, snow park and hotel vide brands Imagicaa, Aquamagicaa, Snomagica and Novotel Imagicaa.

The company's consolidated net profit declined 38.20% to Rs 4.32 crore on a 6.18% fall in revenue to Rs 67.56 crore in Q3 FY24 as compared with Q3 FY23.

The scrip fell 1.62% to currently trade at Rs 79.60 on the BSE.

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Imagicaaworld Entertainment announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 18 March 2024 .

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