Lenders get 57% dues from Imagicaa debt recast, Malpani picks 66.25% stake

Malpani Group acquired the stake by way of preferential allotment of equity shares worth Rs 415 crore.

Malpani Group (MPG), a Maharashtra-based group with presence in the amusement park business, has acquired a 66.25 per cent stake in Imagicaaworld Entertainment following a debt resolution by lenders outside of the bankruptcy process. Lenders recovered 57 per cent of their dues.

MPG acquired the stake by way of preferential allotment of equity shares worth Rs 415 crore. As part of the debt resolution plan, the lenders have been allotted equity shares worth Rs. 75 crore resulting in a collective shareholding of 11.97% in the company. The MPG’s funds were used for repayment of Rs 500 crore of debt to Aditya