Imagicaaworld Entertainment Ltd to acquire water park business in Gujarat

Imagicaaworld Entertainment Limited ("the Company") is proposing to enter into a Business Transfer Agreement ("BTA") with Rajgreen Amusement Park Private Ltd ("RAPPL") to acquire their water park business in the state of Gujarat on a slump sale basis, which would be subject to certain customary government / municipal approvals.

Pursuant to receiving the said approvals, the Company shall also execute a sub-lease deed with RAPPL for sub-leasing the water park land in favour of the Company, the draft of which is pending concurrence from Government Authorities. In order to manage the business in the interim to the closure of the BTA, the Company is also proposing to enter into an arrangement for Operation and Maintenance ("O&M") of the said facility. Further, a shared infrastructure agreement to utilise shared facilities between RAPPL and the Company is also proposed.

Shares of Imagicaaworld Entertainment Limited was last trading in BSE at Rs. 34.30 as compared to the previous close of Rs. 35.35. The total number of shares traded during the day was 50171 in over 836 trades.

The stock hit an intraday high of Rs. 36.45 and intraday low of 34.15. The net turnover during the day was Rs. 1758923.00.

Source : Equity Bulls

Keywords

ImagicaaworldEntertainment INE172N01012 Acquisition WaterParkBusiness Gujarat Slumpsale