Wednesday 17 Aug, 2022 01:41 PM
Site map | Locate Us | Login
   Valiant Organics jumps on bargain hunting     Steel Authority of India Ltd up for third straight session    Jindal Stainless Ltd soars 1.21%, Gains for third straight session    Hindustan Copper Ltd spurts 1.71%, gains for third straight session    NTPC Ltd gains for third straight session    ICICI Bank Ltd up for fifth session    Balkrishna Industries Ltd up for fifth session    Jindal Steel & Power Ltd spurts 0.49%, up for fifth straight session    Tata Power Company Ltd soars 1.36%, up for fifth straight session    REC Ltd up for fifth session    Bharat Petroleum Corporation Ltd spurts 2.4%, rises for fifth straight session    HDFC Life Insurance Company Ltd spurts 2.95%, up for five straight sessions    Astra Microwave gains after JVC ventures into electro optic systems manufacturing    Zee Entertainment Enterprises gains on bargain hunting    Williamson Magor & Company Ltd leads gainers in 'B' group 
Saravan Stocks
       
Hot Pursuit
Scrips, which has significant changes during the market hours.
Imagicaaworld hits the roof after Malpani Group buys major stake
24-Jun-22   14:33 Hrs IST

Malpani Group (MPG) has acquired 66.25% stake in Imagicaaworld Entertainment by way of preferential allotment of equity shares worth Rs 415 crore.

MPG is diversified business group with interests in FMCG, renewable power, real estate, hospitality, entertainment and education businesses. MPG owns and operates 4 parks in Maharashtra - water parks Wet and Joy in Shirdi and Lonavala, amusement park Magic Mountain in Lonavala and first of its kind devotional theme park Saiteerth Theme Park in Shirdi.

The lenders to Imagicaaworld Entertainment have completed a debt resolution for Rs 575 crore, which includes assignment of their debt to Aditya Birla ARC for Rs 500 crore and lenders were also issued equity shares by way of conversion of debt aggregating to Rs 75 crore by the company.

The acquisition was consummated through a debt resolution process outside of NCLT, in accordance with the RBI's Prudential Framework for Resolution of Stressed Assets.

As part of the debt resolution plan, the lenders have been allotted equity shares worth Rs 75 crore resulting in a collective shareholding of 11.97% in the company. The funds infused in the company by MPG have been used for repayment of debt to Aditya Birla ARC.

Three members of MPG, Rajesh Omkarnath Malpani, Manish Madhav Malpani and Jai Manish Malpani, have been inducted on the board of the company.

Dhimant Bakshi, CEO, Imagicaaworld Entertainment, We would like to thank the lenders, Malpani Group, Aditya Birla ARC and Mr. Manmohan Shetty, for successfully completing the Debt Resolution plan of the company. We would also like to give special thanks to the Financial, Legal advisors that have given their astute wisdom to closing this transaction smoothly and our Team for standing by in this journey.

Imagicaaworld Entertainment owns and operates Imagicaa is one of India's leading holiday destinations and offers a gamut of interesting experiences in one place through its theme park, water park, and hotel off the Mumbai-Pune Express Highway.

On a consolidated basis, Imagicaaworld Entertainment reported net loss of Rs 30.68 crore in Q4 March 2022 as against net loss of Rs 55.78 crore in Q4 March 2021. Net sales rose 128.24% to Rs 33.14 crore in Q4 March 2022 over Q4 March 2021.

Powered by Capital Market - Live News

   Attention Investors : Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day........issued in the interest of investors.
   Attention Investors : Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers / Depository Participant. Receive information of your transactions directly from Exchange / Depositories on your mobile / email at the end of the day .... Issued in the interest of Investors.
   Attention Investors : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
   Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Email ID: info@ssplwealth.com       Customers grievances : grievances@ssplwealth.com     Compliance officer : Mr.R Udayakumar , compliance@ssplwealth.com,  Mobile No: 7305522205
Hit Count : 21709573
SEBI Regn.Nos : NSE/BSE-INZ000192638 | CDSL : IN-DP-262-2016  |  MCX : INZ000081736
Member IDs : NSE : 11221 | BSE : 6292 | CDSL : 12045000 | MCX : 12815 | AMFI Regn.No : 2662
Designed , Developed & Content provided by CMOTS INFOTECH.(ISO 9001:2015 certified) © Copyright 2011 All Rights Reserved. Saravana Stocks Pvt. Ltd