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Imagicaaworld Entertainment Approves Fund Raising of Rs 600 Cr via QIP

May 31, 2024

By: BlinkX Research Team

The board of Imagicaaworld Entertainment on Tuesday, approved fundraising of 600 crore rupees via the qualified institutions placement (QIP) route or other permissible methods. However, the company has not shared the timeline for QIP or other methods by which it intends to raise these funds.

Key Takeaways from Imagicaaworld Entertainment’s QIP:

• Imagicaaworld Entertainment approved fundraising of 600 crore rupees via the qualified institution placement.
• The company unveiled six new rides at Imagicaa Water Park in Khopoli to enhance its customer experience.
• The total capital expenditure for these new rides amounted to nearly 12 crore rupees.

A QIP is a method of raising funds through which a company raises funds by issuing shares to eligible institutional bidders. The fundraising will be subject to approval from shareholders of the company.

Earlier this month, the company unveiled six new rides at Imagicaa Water Park in Khopoli to enhance its customer experience. The total capital expenditure for these new rides amounted to nearly 12 crore rupees.

About Imagicaaworld Entertainment Limited:

Imagicaaworld Entertainment Limited is owned and operated by Imagicaaworld Entertainment Limited and promoted by Manmohan Shetty. Imagicaa is a one-stop entertainment destination with a theme park, water park, snow park and a family hotel. It is spread over an aggregate area of 138 acres. Imagicaa Theme Park, Water Park and Snow Park have been created with teams from across the world that are rich in park design and operations expertise. The idea behind this company was to bring immersive & wholesome entertainment to India with high-quality international standards. 

Read More About Imagicaaworld Entertainment Limited Share Price Here!