Imagicaaworld shares decline over 4% as board approves ₹248 crore hotel sale to Juniper Hotels

Imagicaaworld Entertainment shares declined more than 4% during the trading session on Thursday, September 17, as investors focused on the company’s latest divestment move of selling the Novotel Imagicaa hotel at Khopoli, Maharashtra, to Juniper Hotels.

NSE data showed that Imagicaaworld shares declined 4.3% to touch an intraday low of ₹50.70 apiece on Thursday’s market, in comparison to ₹52.99 apiece at the previous equity market close.

Trading volumes surpassed 1.4 million equity shares across NSE and BSE combined on Thursday’s trading session, as investors reacted to the company’s divestment move for a consideration of ₹248 crore for the property.

As of the afternoon market hours on NSE, the company’s stock was trading 2.4% lower at ₹51.54 apiece during the session on September 17.

Although the company's sale of its Novotel Imagicaa hotel will boost the near-term cash reserves in the balance sheet, investors' sentiment was dented as Imagicaaworld will be losing out on recurring revenues from the property in the upcoming period.

“The transaction also provides us with additional growth capital and greater financial flexibility as we enter the next phase of our expansion,” Jai Malpani the Managing Director of Imagicaaworld Entertainment Limited.

Novotel Imagicaa divestment deal

In an official filing on Thursday, September 17, Imagicaaworld Entertainment announced that the company’s board of directors has approved divestment of its 287-key Novotel Imagicaa hotel at Khopoli to Juniper Hotels Limited for an consideraƟon of ₹248 crore.

However, the divestment move is subject to the execution of the definitive agreements and the necessary statutory, regulatory and shareholder approvals.

As per the arrangement, the transaction is proposed to be undertaken through a slump sale of the hotel undertaking as a going concern.

“The property is spread across approximately 11 acres with a built-up area of around 2.8 lakh sq. feet and is strategically located adjacent to Imagicaa Theme Park and Water Park on the Mumbai-Pune corridor,” as per the exchange filing.

Why is Imagicaaworld selling the hotel?

As per the NSE filing, Imagicaaworld said that the proposed divestment aims to strengthen the company’s balance sheet to sharpen its focus on the core entertainment business while unlocking capital for the next phase of growth.

The company plans to expand its park portfolio across new geographies, add new attractions, and experiences across existing parts. Imagicaaworld also aims to further invest in high-growth indoor entertainment segments and build a broader and more diversified entertainment portfolio.

Imagicaaworld is selling the hotel to Juniper Hotels which has plans to upscale Novotel Imagicaa to further strengthen the overall Imagicaa destination.

Stock performance trend

NSE data showed that Imagicaaworld shares have delivered more than 561% returns to investors in the last five years, but the stock has lost 9% of its value in the last three years, and have declined 10.9% in the past one year.

On a YTD basis, the stock has risen 7.1% in 2026, and over 9% in the last one month period. The exchange data also showed that the stock has lost 3.5% in the last five sessions as of the trading close on September 17.

Shares of Imagicaaworld surged to their 52-week high of ₹62 apiece on August 28, 2026, while the 52-week low was at ₹36.84 apiece on March 27, 2026.

The company’s market capitalisation (m-cap) was at ₹2,885 crore as of the trading session on Thursday, September 17, 2026.