In Short:
Exhicon Event Media Solutions plans to buy a 76% stake in Perfect-Octave Limited for ₹8.53 crore to boost its live events and corporate video production. This acquisition, signed on August 26, 2024, involves cash and equity shares. POL, known for entertainment events and corporate videos, had a turnover of ₹12.99 crore in FY 2024 and offers Exhicon access to its music IP library.
Exciting Expansion for Exhicon Event Media Solutions!
In a bold move to enhance its offerings, Exhicon Event Media Solutions Limited has announced plans to acquire a significant 76% equity stake in Perfect-Octave Limited (POL) for a sum of ₹8.53 crore.
A New Partnership on the Horizon
The two companies have officially signed a Memorandum of Understanding on August 26, 2024. This partnership aims to boost Exhicon’s capabilities in live events and corporate video productions, placing them in an even stronger position in the entertainment industry.
Market Response
As excitement builds, shares of Exhicon Event Media Solutions Limited saw a positive trend, trading at ₹331— an increase of ₹18.85 or 6.04% on the BSE at 9:50 am today.
Details of the Acquisition
The acquisition is expected to wrap up within three months following the signing of the Share Purchase Agreement. This deal will be financed through a **cash payment** of ₹51 lakh, along with the issuance of 2,00,459 Exhicon equity shares at ₹400 per share.
About Perfect-Octave Limited
POL is renowned for its role in producing entertainment events, musical performances, and corporate videos. The company reported an impressive turnover of ₹12.99 crore for the fiscal year 2024.
Strategic Growth Plans
This strategic acquisition aligns perfectly with Exhicon’s ambitious plan to broaden its presence in the live events and music concert sector. The company looks forward to leveraging POL’s impressive IP library of non-film music genres and its established identity in the entertainment industry.
- Also read: Exhicon unveils 5-year growth strategy, targets 50% CAGR
