Investment9 Feb 2024, 12:59 am
Imagicaaworld Entertainment Limited to Acquire Four Operational Parks in Maharashtra and One Upcoming Park in Indore
AI Summary
Imagicaaworld Entertainment Limited, which operates Imagicaa — Theme Park, Water Park, Snow Park and a 5-star deluxe family hotel, has received approval from its Board of Directors to acquire four operational parks in Maharashtra and one under construction Water Park in Indore for a total consideration of Rs. 770 Cr, subject to shareholder and regulatory approvals. This move is part of the Malpani Group's vision to consolidate its entertainment businesses under the listed entity Imagicaaworld Entertainment Limited, and is expected to increase its footfall, revenue, and EBITDA.,
Key Highlights
- Consolidation of Malpani Group's parks under Imagicaaworld Entertainment Limited
- Acquisition of four operational parks in Maharashtra and one under construction Water Park in Indore
- Total consideration of Rs. 770 Cr payable over 2.5 years
- Expected increase in footfall, revenue, and EBITDA