Imagicaaworld to Sell Hotel Novotel for ₹248 Cr

Imagicaaworld Entertainment Limited's board has approved in principle the sale of its Hotel Novotel Imagicaa undertaking to Juniper Hotels Limited for ₹248 crore. The transaction, structured as a slump sale, is subject to shareholder approval and definitive agreements. The hotel division contributed ₹57.02 crore in revenue (15.9% of total) and ₹96.74 crore in net worth (7.3% of total) in FY 2025-26. The sale is expected to be completed by March 31, 2027. This divestment requires shareholder approval via postal ballot under Section 180(1)(a) of the Companies Act, 2013.