magicaaworld Entertainment commits up to ₹100 crore to Gujarat’s Shanku’s Water Park via a special purpose vehicle, pairing a direct capital stake with an end-to-end operations management contract.
Imagicaaworld Entertainment has committed up to ₹100 crore – approximately £9.3 million – to Shanku’s Water Park in Mehsana, Gujarat. The company’s board gave its approval on 15 May 2026. The investment flows through Mehsana Next Parks Private Limited (MNPPL). That special purpose vehicle is a subsidiary of Keshav Holiday Resort Private Limited, the current park owner.
Shanku’s covers more than 25 acres and runs over 25 rides and attractions. The site is one of Gujarat’s largest water parks, drawing visitors from Ahmedabad, Gandhinagar and the wider Mehsana district. It sits within an hour’s drive of Ahmedabad and GIFT City – India’s first operational international financial services centre.
The deal structures capital as a mix of equity contribution and debt securities. Part of the funding supports new attractions on adjoining surplus land. Imagicaaworld also takes on operations and management responsibility across park operations, guest experience, safety systems, food and beverage, and revenue optimisation. The company earns a management fee of between 6% and 10% under that arrangement, which began on 1 April 2026 ahead of the board’s formal investment approval.
Jai Malpani, managing director of Imagicaaworld Entertainment Limited, called the deal “an important milestone in Imagicaaworld’s growth strategy as we deepen our footprint in Gujarat, one of India’s fastest growing leisure and tourism markets.” He cited the park’s “high-quality infrastructure, strong regional recall and significant growth potential.”
The park has undergone recent renovation, including water filtration systems comparable to those at Imagicaaworld’s flagship Khopoli park near Mumbai. At the same May board meeting, Imagicaaworld reported Q4 FY2026 revenue from operations of ₹91.9 crore. Footfall reached 621,000 visitors in the quarter – a 5% year-on-year rise.
The Shanku’s agreement sits within what Imagicaaworld has described as a push into “scalable, high-margin formats” beyond its flagship destination parks. The company has separately announced operations in Indore and a planned development near Ahmedabad, indicating a regional expansion model built on asset-light management partnerships rather than full park ownership.
Image: Imagicaa
