With its Rs.1,650-crore Adlabs Imagica complex located between Mumbai and Pune nearing completion, Adlabs Entertainment Ltd. (AEL) is planning to expand its reach to key markets in India to enhance business.
AEL is now drawing up plans to go pan-India to promote the theme park Adlabs Imagica and water park Aquamagica as an integrated holiday and wedding destination.
The complex comprises the Rs.1,300-crore Imagica, the Rs.150-crore Acquamagica and a Rs.200-crore 287-room hotel, which is slated to open shortly.
With this, AEL would be able to provide accommodation to guests from across India, top officials said.
“Time has come to move beyond the catchment area of Mumbai and Pune to other Indian cities where we will project Adlabs Imagica as an inspirational holiday and wedding destination. We aim to market our facilities as a suitable venue for hosting wedding receptions, parties, conferences, meetings and other corporate events,” Manmohan Shetty, CMD, AEL, said.
“We want guests to plan multi-day trips to our park. Those who cannot go abroad to visit such parks should come here. My dream is to make every Indian proud of the Adlabs Imagica and grow up with it as well as like it,” Mr. Shetty said. The nation-wide marketing campaign will start coinciding with the opening of the hotel. And, AEL is planning to rope in 5,500 travel agents to promote its project.
AEL has, in the meanwhile, filed an application with the SEBI to raise approximately Rs.450 crore through an IPO, of which Rs.400 crore will go towards clearing part of the debt amounting to Rs.1,100 crore.
