Penny Stock Under Rs 50: Imagicaa Signs O&M Deal for Gujarat’s Shankus Water Park

Imagicaaworld Entertainment Ltd (IEL) has entered into an Operation and Maintenance (O&M) Agreement with Keshav Holiday Resort Pvt Ltd, a part of the Shanku Group, located in Ahmedabad, Gujarat. The agreement became effective on April 1, 2026.

This development follows the company’s earlier intimation to stock exchanges dated January 20, 2026, regarding a potential joint venture in the state of Gujarat with Keshav Holiday Resort Pvt Ltd.

Under the terms of the agreement, Imagicaaworld Entertainment Ltd will be responsible for running, managing and operating the water park in accordance with agreed conditions. The arrangement marks a strategic step for the company to expand its operational footprint in the water park segment.

Shankus Water Park, a well-known recreational destination in Gujarat, is expected to benefit from IEL’s expertise in theme park and entertainment operations. The partnership is aimed at enhancing operational efficiency and improving overall visitor experience.

About Imagicaaworld Entertainment Ltd (IEL)

Imagicaaworld Entertainment Ltd is India’s 1st Global Scale Theme Leisure & Entertainment Destination. Its flagship Imagicaa park at Khopoli is spread over 110 acres, an all-weather family entertainment destination comprising Theme Park, Water Park, Snow Park, and a 5-star Hotel – Novotel Imagica Khopoli.

Imagicaaworld Entertainment Ltd (IEL) Share Price Performance

As of April 2, 2026, 10:46 IST, Imagicaaworld Entertainment Ltd share price was trading at Rs 40.52, down Rs 0.19 or 0.47 per cent from the previous close of Rs 40.71. The stock opened at Rs 40.50 and touched an Intraday high of Rs 40.64 and a low of Rs 39.80.

During the day, the stock showed moderate movement, fluctuating within a narrow range of Rs 39.80 – Rs 40.64. Despite the slight dip, trading remained steady, with the stock largely consolidating around the Rs 40.50 mark.

On a longer-term basis, the stock has delivered negative returns. Year-to-date (YTD), it has declined 15.27 per cent. Over the past year, the stock has fallen sharply by 40.53 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.