Imagicaaworld Entertainment Ltd Secures LOA to Establish Entertainment Hub at Sabarmati Riverfront

Imagicaaworld Entertainment Limited, having emerged as the successful bidder, has been issued a Letter of Allotment (LOA) by Sabarmati Riverfront Development Corporation Limited (SRFDCL) on March 7, 2024. This development follows the Company's bid to establish an entertainment hub at the Sabarmati Riverfront in Ahmedabad, covering an area of approximately 11 acres.

The proposed project, which entails an investment of about Rs. 130 crore in phases, will be financed through a combination of internal accruals and borrowings as necessary.

The envisioned entertainment hub will feature a diverse range of indoor and outdoor attractions alongside food and beverage offerings. Offered on a 30-year lease, with the possibility of extension, the project signifies a long-term commitment to enriching the cultural and recreational landscape of the area.

Moreover, Imagicaaworld Entertainment Limited is actively engaged in discussions with international brands to collaborate on various attractions within the proposed project, enhancing its appeal and diversity.

EQUITYBULLS