Postal ballot seeks approval to sell Hotel Novotel Imagicaa for Rs 248 crore

Core business divestedStrategic Transactions View source PDF Explain this filing

IMAGICAA · price

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Price reactionminutes from the announcement price · days from the prior close

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Nifty Microcap 250market · in no size index; the smallest one is used-2.6%-0.1% vs market

Leisure Services peers, median of 87sector · industry level-1.7%-1.1% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 1.1 pts less than its Leisure Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Shareholders will vote electronically from October 22 to November 20, 2026 on selling Hotel Novotel Imagicaa and about 11 acres to Juniper Hotels Limited as a going concern for Rs 248 crore. The proposed sale needs shareholder approval and other clearances. Proceeds will fund park expansion, new attractions, indoor entertainment and debt reduction.

Likely market impact

Approval could improve cash flow and cut debt, but shareholders will lose the hotel asset. Completion remains subject to approvals and final terms.