Exhicon Event Media Solutions Limited has announced its intention to acquire a 76% equity stake in Perfect-Octave Limited (POL) for ₹8.53 crore. The companies formalized their agreement with a Memorandum of Understanding signed on August 26, 2024. This acquisition aims to strengthen Exhicon’s capabilities in live events and corporate video productions.
Exhicon’s shares were trading at ₹331 on the BSE, reflecting a rise of ₹18.85 or 6.04% as of 9:50 am today.
The transaction, expected to be finalized within three months following the signing of the Share Purchase Agreement, will be funded by a cash payment of ₹51 lakh and the issuance of 2,00,459 Exhicon equity shares priced at ₹400 per share. POL, known for its work in producing entertainment events, musical performances, and corporate videos, reported a turnover of ₹12.99 crore for FY 2024.
This strategic acquisition aligns with Exhicon’s goal to expand its presence in the live events and music concert industries. The company anticipates leveraging POL’s extensive intellectual property in non-film music genres and its well-established position in the entertainment sector to drive future growth.
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