The board of Imagicaaworld Entertainment Ltd, an amusement and water park operator owned by the Malpani Group from Maharashtra, has approved a plan to raise ₹345 crore through a preferential issue of equity and warrants priced at ₹73.50 each. The funds will be utilized to acquire a new water park in Indore, an operational solar power plant, and for the maintenance of Wet’n Joy parks, as stated by the company.
As of 3:20 pm IST, shares of Imagicaaworld Entertainment were trading 3% lower at ₹71.78 on the BSE. The Malpani Group took over Imagicaaworld in June 2022 after lenders opted to auction the financially troubled company previously owned by Bollywood producer Manmohan Shetty’s Adlabs Entertainment.
In the December quarter of FY25, Imagicaaworld reported a profit before tax (excluding exceptional items) of ₹4.15 crore, reflecting a margin of 4.5%. The number of visitors reached 637,000 in Q3FY25, up from 371,000 in the prior quarter. The company experienced a 31% sequential increase in revenue, totaling ₹91.86 crore for the three months ending in December, with EBITDA at ₹29.61 crore.
Jai Malpani, managing director of Imagicaaworld Entertainment, expressed satisfaction with the company’s steady performance amid macroeconomic challenges and reduced consumer spending. He noted the board’s approval for the ₹345 crore fundraising, highlighting participation from the promoter and strong interest from reputable investors. These strategic investments are intended to support the company’s long-term vision of geographic expansion and enhancement of entertainment offerings. Malpani also mentioned that the Indore water park is expected to begin operations in the upcoming quarter.