Mumbai, June 6 -- The acquisition includes Wet'n Joy Amusement Park and Water Park in Lonavala, as well as the Wet'n Joy Water Park and Saiteerth Devotional Theme Park in Shirdi. The transaction is being executed under the business transfer agreement signed between Imagicaaworld and Giriraj Enterprises.
As part of the crore loan facility, HDFC Bank has secured certain rights under the agreement with Imagicaaworld Entertainment. In the event of a default, the lender will have the right to appoint a nominee director to the company's board. Additionally, any changes to the company's capital structure will require prior approval from the bank.
The sanction letter for the facility was issued on 29 July 2024, and the loan agreement was executed...