lmagicaaworld Entertainment To Raise Up To Rs 600 Crore Via QIP

Imagicaaworld Entertainment Ltd.'s board of directors approved a fund-raising plan on Tuesday, aiming to raise up to Rs 600 crore via qualified institutional placement of equity shares. The proposal is subject to regulatory and shareholder approvals, as per an exchange filing.

The theme-park operator reported a consolidated revenue of Rs 56.6 crore and a net profit of Rs 4.8 crore in the March quarter. In financial year 2024, the revenue stood at Rs 260 crore. Segment-wise, income from ticket sales was Rs 26 crore, while that from food and beverage was Rs 14.6 crore.

Shares of Imagicaaworld were closed 3.51% lower at Rs 81.38 apiece on the BSE after the announcement, compared to a 0.29% decline in the benchmark Sensex.

Imagicaaworld Entertainment owns and operates Imagicaa holiday destinations and offers a gamut of experiences through its theme park, water parks, snow park and hotel under the brands Imagicaa, Aquamagicaa, Snomagica and Novotel Imagicaa.