The proposed acquisition, which is subject to shareholders approval, is valued at Rs 75 crore, and will be executed through a combination of share purchase and fund infusion towards liabilities
Marking a significant expansion in Gujarat, Imagicaaworld Entertainment, a themed entertainment destination, has stated that its board of directors has approved the acquisition of 100 per cent equity in Malpani Parks Ahmedabad or MPAPL. The step secures strategic land ownership for the development of India’s largest waterpark near Ahmedabad, the company said.
The proposed acquisition, which is subject to shareholders approval, is valued at Rs 75 crore, and will be executed through a combination of share purchase and fund infusion towards liabilities, making MPAPL a wholly owned subsidiary of IEL.
“This investment reinforces our geographical growth strategy and strengthens our position as India’s most trusted entertainment brand. We are quite excited with this landmark project which will clearly increase our dominance in Western India and enhance customer experience by many notches,” Jai Malpani, Director, Imagicaaworld Entertainment.
Through this acquisition, IEL gains immediate access to prime non-agricultural land of 34 acre with clear title, highway frontage and connectivity, enabling the Company to accelerate development timelines and establish a flagship destination. The new Water Park is envisioned to house world-class rides, slides, and attractions built to international standards, setting a new gold benchmark for entertainment infrastructure in India.
With this expansion, IEL aims to deepen market penetration, diversify its entertainment offerings, and generate long-term value for stakeholders while catalysing tourism and consumer spends in Gujarat. Notably, the company recently opened Aqua Imagicaa in Indore, further strengthening its presence in Central India. This will mark IEL’s third unique project in Gujarat after Aqua Imagicaa Water Park in the heart of Surat and the Sabarmati Riverfront project near the Atal Bridge in Ahmedabad.
