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The acquisition includes Wet'n Joy Amusement Park and Water Park in Lonavala, as well as the Wet'n Joy Water Park and Saiteerth Devotional Theme Park in Shirdi. The transaction is being executed under the business transfer agreement signed between Imagicaaworld and Giriraj Enterprises. As part of the crore loan facility, HDFC Bank has secured certain rights under the agreement with Imagicaaworld Entertainment. In the event of a default, the lender will have the right to appoint a nominee director to the company's board. Additionally, any changes to the company's capital structure will require prior approval from the bank. The sanction letter for the facility was issued on 29 July 2024, and the loan agreement was executed on 5 June 5, 2025. As per the terms of the facility, the loan is secured by a first pari passu charge on the immovable and movable assets owned by the company, including land, plant, and machinery (excluding assets acquired from Giriraj Enterprises). Additionally, the facility is backed by an exclusive charge on the immovable and movable assets under the park business undertaking acquired from Giriraj Enterprises through a business transfer agreement. The loan is also secured by a charge on the cash flows of the company and supported by personal guarantees from the following directors. Imagicaaworld Entertainment owns and operates India's leading theme and water parks, including Imagicaa, WetnJoy, SaiTeerth, and Aqua Imagicaa at various locations. The company's consolidated net profit jumped 44.9% to Rs 15.16 crore on 66.7% rise in revenue from operations to Rs 94.40 crore in Q4 FY25 over Q4 FY24. Shares of Imagicaaworld Entertainment rose 0.45% to Rs 72.01 on the BSE. Powered by Capital Market - Live News |