Imagicaaworld Entertainment expands with acquisition of four parks in Maharashtra and Indore

Imagicaaworld Entertainment Limited, a leading name in the amusement park industry, has announced its strategic decision to acquire four operational parks located in Maharashtra (Lonavala and Shirdi) and an under-construction water park in Indore. The total consideration for this acquisition is Rs. 770 Cr, to be paid over 2.5 years, pending shareholder and regulatory approvals. This acquisition represents a significant milestone for Imagicaaworld and is part of the Malpani Group’s vision to consolidate its portfolio of current and future entertainment businesses under the listed entity, Imagicaaworld Entertainment Limited.

This strategic initiative is aimed at broadening Imagicaaworld’s pan-India presence and streamlining operational efficiencies by consolidating all parks under one corporate umbrella. The acquisition includes two water parks, one amusement park, and one unique devotional theme park, all operating profitably under the brands Wet’n Joy and Sai Teerth. These parks have demonstrated strong financial performance, reporting a revenue of Rs. 124.7 Cr and an EBITDA of Rs. 72.6 Cr in FY23, highlighting an impressive EBITDA margin of 58%.

The acquisition also encompasses a nearly completed park in Indore, set to be finalized in Q1 FY25. The Malpani Group, known for its deep expertise in the entertainment industry, has developed all parks. Their popularity in their respective regions is attributed to meticulous master planning by top architects and the inclusion of rides from renowned suppliers worldwide.

Jai Malpani, Managing Director of Imagicaaworld Entertainment Limited, expressed enthusiasm about this pivotal development, stating, “We are thrilled to unveil a pivotal milestone in our journey – the strategic consolidation of Malpani Group’s parks under the Imagicaaworld Entertainment Limited umbrella. This move is designed to unlock synergies across our operations, propelling Imagicaaworld Entertainment Ltd. to new pinnacles of success in the entertainment domain and ensuring sustainable, profitable growth.”

The acquisition is anticipated to significantly boost Imagicaaworld’s footfall by more than 2x, revenue by more than 1.5x, EBITDA by more than 1.7x, and facilitate expansion into new territories, thereby enhancing shareholder value and setting new benchmarks for excellence in the entertainment sector.

Imagicaaworld Entertainment Limited’s strategic acquisition of these entertainment parks marks a transformative moment for the industry. By consolidating a diverse portfolio of amusement and theme parks under one brand, Imagicaaworld not only enhances its operational efficiency and market presence but also reinforces its commitment to providing unparalleled entertainment experiences across India. This move signifies a major leap towards achieving a dominant position in the entertainment sector, promising an exciting future for the company and its stakeholders.