Imagicaaworld to Acquire 50% Stake in Shanku’s Water Park SPV for ₹50 Crore, Expands Gujarat Presence
Mumbai, August 3, 2026: Imagicaaworld Entertainment Limited (BSE: 539056 | NSE: IMAGICAA), one of India’s leading amusement and water park operators, has announced a strategic investment of ₹50 crore to acquire a 50% equity stake in Mehsana Next Parks Private Limited (MNPPL). The special purpose vehicle (SPV) owns and operates Shanku’s Water Park in Mehsana, Gujarat.
The acquisition marks a significant step in Imagicaaworld’s expansion strategy, strengthening its presence in one of India’s fastest-growing leisure and tourism markets.
Imagicaaworld to Invest ₹50 Crore in Shanku’s Water Park
Under the investment agreement, Imagicaaworld will invest ₹50 crore in MNPPL, securing a 50% ownership in the company.
MNPPL has acquired Shanku’s Water Park through a slump sale arrangement and will now focus on expanding and modernizing the destination. The SPV also plans to raise additional capital over the next 12 to 18 months to fund new attractions, infrastructure, and guest facilities.
Apart from the equity investment, Imagicaaworld will oversee the park’s operations through a comprehensive Operations & Management (O&M) agreement.
Imagicaaworld to Manage Operations
As part of the agreement, Imagicaaworld will provide operational expertise across several key areas, including:
- Park operations and maintenance
- Guest experience enhancement
- Safety and operational standards
- Food and beverage management
- Revenue optimization
- Operational efficiency
For these services, the company will earn management fees ranging between 6% and 10%, depending on agreed performance parameters.
This arrangement enables Imagicaaworld to leverage its proven capabilities while generating an additional recurring revenue stream.
Management Commentary
Commenting on the investment, Jai Malpani, Managing Director of Imagicaaworld Entertainment Limited, said:
“This investment marks an important milestone in our strategy to deepen our presence in Gujarat, one of India’s fast-growing leisure and tourism markets. It gives us the opportunity to participate in the next phase of growth of a well-established destination.
We look forward to enhancing guest experiences, driving footfalls, and creating long-term value for all stakeholders through this unique association.”
About Shanku’s Water Park
Located in Mehsana, Gujarat, Shanku’s Water Park is among the state’s most established water park destinations. It serves a large visitor base from Ahmedabad, Gandhinagar, Mehsana, and nearby regions.
Key Highlights
- Spread across more than 25 acres
- Features 25+ water rides and attractions
- One of Gujarat’s largest water parks
- Recently renovated with modern infrastructure
- Equipped with advanced water filtration systems comparable to Imagicaa’s flagship Khopoli property
The park already enjoys strong brand recognition and is expected to benefit from Imagicaaworld’s operational expertise and marketing capabilities.
Strategic Importance of the Acquisition
The investment aligns with Imagicaaworld’s long-term strategy of expanding beyond its existing parks through partnerships and asset-light growth opportunities.
Potential Benefits
- Stronger presence in Gujarat’s tourism market
- Expansion into a high-growth regional entertainment destination
- Additional recurring management fee income
- Opportunity to increase visitor footfalls
- Enhanced operational efficiencies
- Long-term value creation for shareholders
Rather than building a new park from the ground up, Imagicaaworld is partnering with an established destination that already has significant infrastructure and customer awareness.
About Imagicaaworld Entertainment Limited
Imagicaaworld Entertainment Limited owns and operates several popular entertainment destinations across India, including:
- Imagicaa Theme Park
- Aqua Imagicaa Water Park
- Wet’n Joy Water Parks
- Sai Teerth Theme Park
The company continues to expand its footprint in India’s growing leisure and tourism sector by offering world-class attractions, water parks, and family entertainment experiences.
What This Means for Investors
The acquisition demonstrates Imagicaaworld’s focus on scalable expansion through strategic investments rather than capital-intensive greenfield developments. The combination of equity ownership and recurring management fees could strengthen the company’s revenue diversification while allowing it to capitalize on Gujarat’s growing tourism and recreation demand.
If the planned expansion at Shanku’s Water Park succeeds in attracting higher visitor numbers, the partnership could become a key contributor to Imagicaaworld’s long-term growth strategy.