Imagicaaworld Entertainment Limited (“the Company”) has entered into a Business Transfer Agreement (“BTA”) with Rajgreen Amusement Park Private Ltd (“RAPPL”) on February 21, 2023 to acquire their water park business in Surat, 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 underlying water park land in favour of the Company, the draft of which is pending approvals from Government Authorities. In order to manage the business in the interim to the closure of the BTA, the Company has also entered into an arrangement for O&M of the said facility. Separately, a shared infrastructure agreement for utilization of shared/common facilities between RAPPL and the Company was also executed.
Shares of Imagicaaworld Entertainment Limited was last trading in BSE at Rs. 41.25 as compared to the previous close of Rs. 35.15. The total number of shares traded during the day was 423732 in over 3233 trades.
The stock hit an intraday high of Rs. 42.15 and intraday low of 34.90. The net turnover during the day was Rs. 16801574.00.
Source : Equity Bulls
Keywords
ImagicaaworldEntertainment
INE172N01012
BTA
RajgreenAmusementPark
WaterParkBusiness
Surat
