Imagicaaworld to invest ₹100 crore in Gujarat’s Shanku’s Water Park
Sarthak Kumar
Imagicaaworld Entertainment Limited today announced that its board has approved a strategic investment of up to ₹100 crore in Shanku’s Water Park, a landmark water park destination located near Ahmedabad, Gujarat.
According to the company’s press release, the investment will be made in Mehsana Next Parks Private Limited (MNPPL), the special purpose vehicle that will own and operate Shanku’s Water Park.
The proposed investment will be through a mix of equity contribution and debt securities and will also include additional capital for future expansion and development of new attractions and facilities on surplus land adjoining the water park.
Located in Mehsana, Gujarat, Shanku’s Water Park is spread across more than 25 acres and features over 25 rides and attractions. The company described it as Gujarat’s largest water park destination with strong access to the catchment markets of Ahmedabad, Mehsana, Gandhinagar and nearby regions.
Imagicaaworld said the park has recently undergone extensive renovation and modernization, including deployment of advanced water filtration systems similar to those used at Imagicaa’s flagship Khopoli property.
As part of the transaction, Imagicaaworld will also provide operations and management services to the water park, leveraging its expertise in guest experience, safety systems, food and beverage operations, and revenue optimisation. Under the arrangement, the company is expected to earn management fees in the range of 6%-10% for providing operational expertise.
Commenting on the transaction, Jai Malpani, Managing Director of Imagicaaworld Entertainment Limited, said the deal marks an important milestone in the company’s growth strategy as it deepens its footprint in Gujarat, one of India’s fastest-growing leisure and tourism markets.
The company added that Gujarat’s rising discretionary spending, rapid urbanisation and the growth of destinations such as GIFT City provide strong long-term potential for organised entertainment and tourism businesses.
Imagicaaworld currently operates leading amusement and water park destinations including Imagicaa, Wet’nJoy and Sai Teerth.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.