Ahmedabad: Imagicaaworld Entertainment Limited on Monday announced plans to invest up to Rs 100 crore in Shanku’s Water Park near Ahmedabad, marking its entry into Gujarat’s rapidly expanding leisure and tourism space.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 blend of equity infusion and debt instruments, along with additional funds set aside for future expansion and new attraction development.Spread over more than 25 acres, Shanku’s Water Park is considered Gujarat’s largest water park destination, featuring over 25 rides and attractions. It attracts visitors from Ahmedabad, Gandhinagar, Mehsana, and surrounding areas.Under the agreement, Imagicaaworld will provide operations and management services for the park, covering guest experience, safety protocols, food and beverage operations, and revenue optimization. The company is expected to earn management fees in the range of 6% to 10% under the arrangement.Commenting on the development, Jai Malpani, managing director, Imagicaaworld Entertainment Limited, said, “Gujarat offers strong long-term potential for organized entertainment and leisure destinations due to rising discretionary spending and an expanding consumer base. Shanku’s Water Park, located close to Ahmedabad and GIFT City, is well positioned to benefit from both commercial growth and weekend tourism demand.”Imagicaaworld said the partnership would enhance guest experiences and boost footfalls while expanding its presence beyond its flagship Khopoli property in Maharashtra.
