Image Source: Gujarat Tourism
Imagicaaworld Entertainment Limited has entered into discussions with Keshav Holiday Resort Private Limited, part of Shanku Group, to evaluate a potential joint venture in Gujarat. A non-binding offer has been mutually accepted, with a 180-day exclusivity period set for due diligence, negotiations, and regulatory approvals.
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Imagicaaworld Entertainment Limited announced that it has initiated talks with Keshav Holiday Resort Private Limited (KHRPL), known for Shanku’s Water Park, to explore the feasibility of a joint venture in Gujarat. The collaboration aims to leverage both companies’ strengths in entertainment and hospitality, potentially expanding Imagicaaworld’s footprint in western India.
Key Highlights
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The company has signed a non-binding interest/offer with KHRPL, which has been accepted on similar terms
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The proposed joint venture remains subject to board approval, regulatory clearances, lender and third-party consents, and completion of due diligence
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Negotiation of definitive agreements will be required before finalization
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Both parties have agreed to an exclusivity period of 180 days to structure and finalize the partnership terms
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The move signals Imagicaaworld’s intent to strengthen its presence in Gujarat’s growing leisure and tourism sector
Sources: Bombay Stock Exchange (BSE) filing, Imagicaaworld Entertainment Limited corporate announcement
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