Imagicaaworld Entertainment Limited has informed the Exchange about Agreements
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Imagicaaworld Entertainment has signed a loan facility agreement with HDFC Bank on June 5, 2025, for a term loan of Rs. 275 crore, with IDBI Trusteeship Services acting as trustee. The funds will be used to finance the purchase of two park businesses — Wet'n Joy (Amusement Park and Water Park) at Lonavala and Wet'n Joy (Water Park and Saiteerth Devotional Theme Park) at Shirdi — acquired from Giriraj Enterprises under a Business Transfer Agreement. The loan was originally sanctioned on July 29, 2024, and is secured by a first pari passu charge on the company's existing assets, an exclusive charge on the newly acquired park assets, a charge on company cash flows, and personal guarantees from three directors. On default, HDFC Bank will have the right to appoint a nominee director and must approve any changes to the capital structure.
This is a new debt of Rs. 275 crore that will increase the company's leverage but enables completion of its acquisition of two Wet'n Joy parks, expanding its park portfolio. Shareholders should note higher interest obligations and the fact that the lender has significant control rights, including board nomination on default and approval over capital structure changes.