Imagicaa’s leaders describe a prolonged fight through debt stress, legal proceedings, lender negotiations, failed deals and pandemic shutdowns—not a single rescue move that can be isolated from the available accounts. In Rollercoaster of Hope: The Turnaround Story of Imagicaa, CEO and CMO Dhimant Bakshi and CFO and Head (Legal) Mayuresh Kore recount the company’s five-year journey from the brink of bankruptcy toward revival. Their account offers a view of the persistence and operating focus they say helped keep the business going, while the precise legal and financial sequence remains unestablished in the sources available.
What is Rollercoaster of Hope about?
The book is an inside account of Imagicaaworld Entertainment Limited’s crisis and attempted recovery, written by two senior company leaders. In a January 2026 interview, Bakshi and Kore describe a five-year period marked by non-performing-asset (NPA) stress, courtroom battles and National Company Law Tribunal (NCLT) proceedings, talks with lenders, failed deals, delayed salaries and the disruption of the pandemic. The story is about managing a business through uncertainty as well as financial and legal pressure. MediaInfoline’s interview identifies the authors as CEO and CMO Bakshi and CFO and Head (Legal) Kore.
The authors say they wanted to record what the experience felt like from inside the company. “We wanted to document the journey honestly; unfiltered and unvarnished,” they told MediaInfoline on January 7, 2026.
How did Imagicaa avoid shutting down?
The available accounts point to sustained effort across negotiations, legal processes and day-to-day operations, rather than identifying one definitive event that saved the park. The book’s description covers NPA stress, lender negotiations, court and NCLT proceedings, and deals that did not succeed. ET Edge’s interview introduction also summarizes Bakshi’s discussion of keeping the park alive with no cash, protecting guests and rallying employees; that wording is the outlet’s summary, not a direct quote. ET Edge’s interview
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These accounts do not establish a complete, independently verified chronology of the proceedings or transactions, nor do they show which intervention was decisive. It is therefore more accurate to describe a prolonged effort to keep the business operating through financial and operational uncertainty than to attribute the outcome to a single deal or management decision.
What operating approach did the leaders emphasize?
Bakshi and Kore describe focusing on actions within their control instead of becoming fixated on the company’s overall position. “We stopped obsessing over the scoreboard and concentrated on small wins, people, and execution,” they said in the January 7, 2026 MediaInfoline interview. That is the co-authors’ reflection on their approach, not proof that any one practice caused the turnaround.
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The emphasis matters in the context of a visitor-facing business: the account includes the challenge of keeping operations and guest protection in view while employees and leaders faced uncertainty. The sources support that broad picture, but do not provide enough detail to reconstruct operating decisions or their sequence.
What do the company’s recovery figures show?
Imagicaaworld’s FY2022–23 annual report records 1.36 million footfalls, ₹250 crore in revenue and ₹100.1 crore in EBITDA. These company-reported figures show the scale of the business in that financial year, but they need the COVID-affected comparison period for context: the company says its parks were not in complete operation during FY2021–22 because of lockdowns. FY2022–23 was therefore a rebound from a disrupted base, not a clean comparison with an ordinary full year. Imagicaaworld FY2022–23 annual report
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The report also lists average realization per visitor of ₹1,543 across the theme and water parks in FY2022–23, versus ₹1,568 in FY2021–22. The FY2022–23 figure comprised ₹974 from tickets, ₹336 from food and beverage, ₹88 from retail and ₹145 from other sources. These are historical company figures, not current ticket prices or a measure of what every visitor spent.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What remains unclear about the turnaround?
The sources describe the pressures and the leaders’ stated mindset, but do not establish the full legal and financial chain that kept Imagicaa from closing. They do not provide a verified NCLT chronology, restructuring terms, debt balances, investor transaction terms or a clear basis for a valuation. Fortune India’s podcast description calls the later company a “₹4,000 crore” comeback, but does not state the valuation method or date; that phrase should not be treated as a verified company valuation. Fortune India’s podcast description
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For readers, the distinction is important: the book and interviews offer an account from leaders who were inside the business, while the annual report provides historical operating figures. Neither, on its own, supplies a complete independent record of every legal step or proves which action prevented closure.
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