Imagicaaworld Entertainment Limited has informed the Exchange about execution of financing agreements with Axis Bank Limited ("Lender") and IDBI Trusteeship Services Limited ("Security Trustee") today i.e. April 10, 2026
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Imagicaaworld Entertainment Limited has signed financing agreements with Axis Bank Limited (as Lender) and IDBI Trusteeship Services Limited (as Security Trustee) on April 10, 2026, for a total facility of Rs. 65 Crore. The facility is a combination of Term Loan and Working Capital, aimed at shoring up the company's long-term resources. The loan is secured by a first pari-passu charge on assets at the Khopoli location and second pari-passu charges on assets at Lonavala and on current assets/receivables, along with personal guarantees from directors Rajesh Malpani, Manish Malpani, and Jai Malpani. The sanction letter was originally issued on November 10, 2025. The lender also retains the right to appoint a nominee director on the board if an event of default is triggered.
This Rs. 65 Crore fresh borrowing strengthens the company's long-term funding position and provides additional working capital support, which is positive for operations. However, the debt adds to the company's leverage and comes with covenants that could limit capital structure flexibility and may result in a nominee director if defaults occur.