The board of Imagicaaworld Entertainment Ltd, an amusement and water park operator owned by Maharashtra-based Malpani Group, has approved a proposal to raise ₹345 crore through a preferential issue of a mix of equity and warrants at ₹73.50 apiece.
The company will use the proceeds to acquire a new water park in Indore, an operational solar power plant, and for upkeep of Wet’n Joy parks, Imagicaaworld said in a statement.
At 3:20 pm IST, shares of Imagicaaworld Entertainment traded 3% lower at ₹71.78 apiece on the BSE.
The Malpani group acquired Imagicaaworld in June 2022 after lenders decided to auction off the debt-laden company owned by Bollywood film producer Manmohan Shetty’s Adlabs Entertainment.
Growth and profitability
Imagicaaworld recorded a profit before tax (before exceptional items) of ₹4.15 crore, with a margin of 4.5% in the December quarter of FY25. Footfalls stood at 637,000 in Q3FY25 compared to 371,000 in the previous quarter. The company clocked in a 31% sequential growth in revenue, which stood at ₹91.86 crore in the three months through December. Ebitda stood at ₹29.61 crore.
“We are pleased to report a steady performance for the quarter and nine months ended FY25. Despite macroeconomic uncertainties and subdued consumer spending, we continue to receive love from the guests because of the quality of experience we provide to our visitors,” Jai Malpani, managing director, Imagicaaworld Entertainment, said in the statement. “I am pleased to inform that the board has approved fundraise of ₹345 crore through a preferential issue, in which the promoter has also participated as well as received strong interest from quality investors. These strategic investments align with our long- term vision of expanding our footprint geographically and simultaneously elevating the quality of entertainment offerings,” Malpani added.
The company’s Indore water park is set to commence operations in the coming quarter, he said.
