Imagicaaworld Entertainment Limited has announced plans to expand its operations in Gujarat with the acquisition of 100% equity in Malpani Parks Ahmedabad Private Limited (MPAPL). The acquisition, valued at ₹75 crore, is subject to shareholder approval and will be carried out through a combination of share purchase and funding of existing liabilities. Upon completion, MPAPL will become a wholly owned subsidiary of Imagicaaworld Entertainment Limited (IEL).
The acquisition secures ownership of 34 acres of non-agricultural land with highway frontage near Ahmedabad, which will be used to develop a new waterpark. This will be IEL’s third project in Gujarat, following Aqua Imagicaa Water Park in Surat and the Sabarmati Riverfront development near the Atal Bridge in Ahmedabad.
Commenting on the development, Mr Jai Malpani, Director, Imagicaaworld Entertainment Limited, said, “We are committed to creating best-in-class entertainment experiences for Indian consumers, and the Ahmedabad-Gandhinagar belt will now witness the launch of the country’s largest water park. 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. This also reinforces our conviction of Gujarat as a hub for high quality entertainment and tourism.”
IEL stated that the proposed development will include rides and attractions built to international standards. The company aims to broaden its market reach, expand its offerings, and support tourism growth in the region.
Earlier this year, IEL launched Aqua Imagicaa in Indore, marking its entry into Central India.
