Imagicaaworld Entertainment Entered non-binding JV offer with Keshav Holiday Resort Pvt Ltd for Gujarat project

Imagicaaworld Entertainment Limited has officially entered into a non-binding agreement with Keshav Holiday Resort Private Limited (KHRPL), famously known as Shanku’s Water Park, to evaluate a potential joint venture in Gujarat. Part of the Shanku Group, KHRPL has accepted the offer on a non-binding basis, signaling a strategic intent to collaborate. This move represents Imagicaaworld’s interest in expanding its footprint into the Gujarat market by leveraging the established local presence of the Shanku Group.

The proposed partnership is currently in the preliminary stages, with both parties entering an exclusivity period of 180 days to negotiate and finalise the venture's structure. The finalisation of the joint venture remains subject to several critical conditions, including comprehensive due diligence, board approvals, and necessary clearances from lenders and regulatory bodies. As of now, the agreement serves as a framework for exploration and does not yet constitute a definitive or legally binding contract.

About the Company

Imagicaaworld Entertainment Limited stands as India’s first global-scale theme leisure and entertainment destination, anchored by its massive 110-acre flagship property in Khopoli. This all-weather resort integrates a diverse mix of attractions, including a Theme Park, Water Park, Snow Park, and the upscale Novotel Imagica Khopoli. Following a strategic acquisition in FY23, the company is now a part of the Malpani Group, a prominent Maharashtra-based diversified conglomerate with expertise in hospitality and Real Estate, which took over the entity under a resolution plan to drive its next phase of growth. The company has a market cap of over 2,700 crore and the stock is up by 20 per cent from its 52-week low of Rs 43.90 per share.

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