Imagicaaworld Entertainment shares declined 4.3% to touch an intraday low of ₹50.70 on Thursday, September 17, as investors reacted to the company's hotel sale announcement. According to latest market data, the stock is currently trading at ₹51.15, representing a 3.78% decline from its previous closing price of ₹53.16. The smallcap stock, currently priced under ₹100, has been trading in the range of ₹53.66 to ₹50.72 during the session. The company commands a market capitalisation of ₹2,892.72 crore as of Thursday, September 17, 2026, with the stock showing a 14.65% gain for the year but a 2.65% decline in the last 5 days.
The company's board of directors approved the divestment of its 287-key Novotel Imagicaa hotel at Khopoli to Juniper Hotels Limited for a consideration of ₹248 crore. As reported in the official filing, the transaction is proposed to be undertaken through a slump sale of the hotel undertaking as a going concern. The property spans approximately 11 acres with a built-up area of around 2.8 lakh sq. feet and is strategically located next to Imagicaa Theme Park and Water Park on the Khopoli-Pali Road, off the Mumbai-Pune Expressway in Maharashtra. The resort features 287 Superior Rooms, five suites, 20 Premier Rooms and a Presidential Suite, providing premium accommodation options for visitors to the entertainment complex. The property also includes restaurants, banquet and meeting facilities, enhancing its commercial appeal.
According to Jai Malpani, Managing Director of Imagicaaworld Entertainment Limited, the transaction provides additional growth capital and greater financial flexibility as the company enters the next phase of expansion. The proposed divestment aims to strengthen the company's balance sheet to sharpen its focus on the core entertainment business while unlocking capital for growth. The company plans to expand its park portfolio across new geographies, add new attractions, and experiences across existing parts, while further investing in high-growth indoor entertainment segments.
Juniper Hotels shares rose on Thursday following the company's proposed acquisition of the Novotel Imagicaa hotel, as reported by The Economic Times. The acquisition advances Juniper's long-term portfolio building objective and is expected to generate stable cash flows immediately. Juniper Hotels sees opportunities to add banqueting capacity and rebrand the property to enhance its commercial potential. The transaction completion depends on definitive agreements and regulatory approvals, with the established hotel expected to strengthen Juniper's presence in the Mumbai-Pune corridor.
