Juniper Hotels Limited
Binding Memorandum of Understanding for Acquisition of Novotel Imagicaa Hotel
Main Body
Juniper Hotels Limited has entered into a Binding Memorandum of Understanding (MoU) with Imagicaaworld Entertainment Limited (previously known as Adlabs Entertainment Limited) for the acquisition of the operating Hotel Novotel Imagicaa, located at Khopoli, Maharashtra, strategically positioned in close proximity to Mumbai.
Financial Details: The total consideration for the acquisition is ₹2,48,00,00,000/- (Rupees Two Hundred Forty-Eight Crores Only). This amount is subject to tax deduction at source, stamp duty, transaction costs, and other adjustments, if any, as per the terms and conditions mentioned in the definitive documents.
Property Specifications: The hotel property spans approximately 11 acres of land with a built-up area of approximately 2,80,000 square feet. The facility comprises 287 guest rooms along with restaurants, banquet and meeting facilities, recreational amenities, and other associated hotel infrastructure.
Date of Execution: The Binding MoU was executed on October 5, 2026.
Parties Involved: The agreement is between Juniper Hotels Limited (the Company) and Imagicaaworld Entertainment Limited (the Seller).
Approvals: The Board of Directors of Juniper Hotels Limited approved the Binding Memorandum of Understanding in their meeting held on September 16, 2026 (reference letter no. JHL/SJ/2026/68). The Company is expected to execute the definitive documents shortly and will make further disclosures to the Stock Exchanges upon execution.
Relationship Status: The Seller (Imagicaaworld Entertainment Limited) is not related to the promoter, promoter group, or group companies of Juniper Hotels Limited. The transaction does not qualify as a related party transaction and is conducted at arm's length.
Transaction Structure: The acquisition does not involve any issuance of shares by Juniper Hotels Limited.