Imagicaaworld Entertainment Limited on Monday announced its entry into Gujarat’s leisure and tourism market with plans to invest up to ₹100 crore in Shanku’s Water Park near Ahmedabad.
The investment will be routed through Mehsana Next Parks Private Limited (MNPPL), the special purpose vehicle that will own and operate Shanku’s Water Park in Mehsana. The deal includes a combination of equity infusion and debt funding, along with additional investment planned for future expansion and new attractions.
Spread over more than 25 acres, Shanku’s Water Park is among Gujarat’s largest water-based entertainment destinations, featuring over 25 rides and attractions. The park attracts visitors from Ahmedabad, Gandhinagar, Mehsana and surrounding areas.
As part of the agreement, Imagicaaworld will manage the park’s operations, including guest services, safety standards, food and beverage management, and revenue growth initiatives. The company is expected to earn management fees ranging from 6 per cent to 10 per cent.
Jai Malpani, Managing Director of Imagicaaworld Entertainment Limited, said Gujarat offers significant long-term potential for organised entertainment and leisure businesses due to rising discretionary spending and a growing consumer market.
He added that the park’s location near Ahmedabad and GIFT City positions it well to benefit from increasing commercial activity and growing weekend tourism demand.
“Through this partnership, we aim to leverage Imagicaaworld’s operational expertise and brand strength to enhance guest experiences, increase footfalls and create long-term value for stakeholders,” Malpani said.