| <P>Imagicaaworld Entertainment announced that the board of directors has approved a strategic investment of up to Rs 100 crore in “Shanku's Water Park”, a landmark destination near Ahmedabad. </P> <P>The proposed investment will be through a combination of equity contribution and debt securities, which will also include additional capital for future expansion and development of new attractions and facilities on surplus land adjoining the Water Park.</P> <P>Imagicaaworld will also provide Operations & Management services to Shanku's Water Park leveraging its expertise in park operations, guest experience, safety systems, food & beverage and revenue optimization. </P> <P>As part of the O&M arrangement, Imagicaaworld will receive management fees in the range of 6%–10% for providing operational expertise. </P> <P>Commenting on the transaction, Jai Malpani, Managing Director, Imagicaaworld Entertainment said, “This transaction represents an important milestone in Imagicaaworld's growth strategy as we deepen our footprint in Gujarat, one of India's fastest growing leisure and tourism markets. Gujarat has a strong consumer base, rising discretionary spending and significant long-term potential for organized entertainment destinations. The transaction also reflects our agility and appetite for structured transactions, in our quest to expand high quality offerings across potent catchments. </P> <P>Shanku's Water Park is a well-established destination with high-quality infrastructure, strong regional recall and significant growth potential. Strategically located within a 1-hour radius of both the business capital Ahmedabad and India's elite financial tech hub, GIFT City. This prime asset sits at the crossroads of immense commercial growth and booming weekend tourism. </P> <P>Through this partnership structure, we aim to leverage Imagicaaworld's operational expertise and brand capabilities to further enhance guest experiences, drive footfalls and create long-term value for all stakeholders.” </P> |