The acquisition fits Imagicaaworld’s stated strategy of partnering with established regional parks rather than building new properties from scratch.
| Photo Credit:
Dado Ruvic
Imagicaaworld Entertainment Limited, India's largest amusement and water park operator, has signed an agreement to acquire a 50 per cent equity stake in Mehsana Next Parks Private Limited (MNPPL), the SPV set up to own and operate Shanku's Water Park in Mehsana, Gujarat, the company announced on Wednesday.The deal involves a ₹50 crore investment and gives Imagicaaworld both an ownership stake and an operational role at the park, which it will rebrand as Aqua Imagicaa at Shanku's. Under a separate Operations & Management arrangement, the company will earn management fees of 6 per cent to 10 per cent based on performance.MNPPL acquired Shanku's Water Park through a slump sale arrangement. The SPV plans to raise additional capital over the next 12 to 18 months to fund new attractions and infrastructure upgrades.Shanku's Water Park spans over 25 acres and houses more than 25 rides and attractions, drawing visitors from Ahmedabad, Mehsana, Gandhinagar and nearby areas. The park has recently completed renovations, including installation of water filtration systems comparable to those at Imagicaaworld's flagship Khopoli property.Managing Director Jai Malpani described Gujarat as one of India's fastest-growing leisure and tourism markets and said the company sees scope to position the park as a benchmark water entertainment destination.The acquisition fits Imagicaaworld's stated strategy of partnering with established regional parks rather than building new properties from scratch. The company already operates Imagicaa, Wet'n Joy, and Sai Teerth parks.India's leisure sector has seen rising investor interest, supported by growth in domestic tourism and consumer spending on experiences. For Imagicaaworld, the Gujarat deal expands its geographic footprint beyond Maharashtra and adds an asset with an existing customer base to its portfolio.Published on August 5, 2026
