Imagicaaworld Entertainment acquires 50.002% stake in Gujarat park JV for ₹50 crore
2 min read Updated on 31 Jul 2026, 03:57 PM
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Imagicaaworld Entertainment acquires 50.002% stake in Mehsana Next Parks for ₹50 crorets outdoor entertainment footprint in Gujarat, with completion expected by September 30, 2026
*this image is generated using AI for illustrative purposes only.
Imagicaaworld Entertainment Limited has entered into an investment agreement to acquire a 50.002% stake in Mehsana Next Parks Private Limited (MNPPL) for ₹50 crore, marking its expansion into the Gujarat market. The transaction, disclosed on July 31, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, positions the company to operate Shanku’s Water Park through a joint venture with Keshav Holiday Resort Private Limited (KHRPL), a part of the Shanku Group. This move allows Imagicaaworld to leverage regional expertise while entering a new geography in the outdoor entertainment sector.
The deal structure involves MNPPL, a special purpose vehicle (SPV) formed for this purpose and currently a subsidiary of KRHL, acquiring Shanku’s Water Park from KHRPL on a ‘slump sale basis’. Imagicaaworld has executed a deed of adherence to the business transfer agreement dated July 30, 2026, binding itself to the terms of the acquisition. The consideration is entirely cash-based, and the transaction is not classified as a related party transaction. Upon completion, MNPPL will become a subsidiary of Imagicaaworld.
Transaction Details
| Parameter | Details |
|---|---|
| Target Entity | Mehsana Next Parks Private Limited (MNPPL) |
| Stake Acquired | 50.002% |
| Consideration | ₹50 crore (Cash) |
| Business Segment | Outdoor Entertainment Parks |
| Expected Completion | On or before September 30, 2026 |
MNPPL was incorporated on February 12, 2025, and reported nil turnover for the financial year ended March 31, 2026, as it is an SPV created specifically for this venture. The company stated that the acquisition aligns with its strategy to expand existing business operations by associating with an existing regional player in the outdoor entertainment park business.
Governance and Board Composition
Under the terms of the investment agreement, governance of MNPPL will be shared between the partners. Both Imagicaaworld and KHRPL have the right to appoint two directors each to the board of MNPPL. Additionally, the parties will appoint one independent director by consensus. This structure ensures balanced operational control and management oversight for the joint venture.
Regulatory Approvals and Timeline
The transaction is subject to the fulfillment of conditions precedent as agreed between the parties, along with any necessary statutory, regulatory, or third-party approvals. Imagicaaworld indicated that the acquisition is likely to be completed on or before September 30, 2026. The disclosure was made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, updated on January 30, 2026.
Other Developments
In a separate update regarding its broader expansion plans, Imagicaaworld informed stock exchanges that the proposed acquisition of 100% equity shares of Malpani Parks Ahmedabad Private Limited (MPAPL) from Malpani Parks Private Limited has not been executed as of March 31, 2026. This follows a previous intimation dated August 22, 2025, concerning the outcome of the board meeting held on that date.
Historical Stock Returns for Imagicaaworld Entertainment
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.30% | +0.36% | -3.53% | -7.45% | -26.41% | +440.11% |
How will the ₹50 crore cash outlay for the Gujarat expansion impact Imagicaaworld’s short-term liquidity and debt-to-equity ratios?
What specific operational synergies or revenue projections does management expect from integrating Shanku’s Water Park into its existing portfolio by FY2027?
Given the failed acquisition of Malpani Parks Ahmedabad, what alternative strategies is Imagicaaworld pursuing to consolidate its presence in the western India market?
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