Exhicon’s 8th Consecutive Acquisition Since Listing, Acquires 76% Stake in Perfect Octave Limited
Mumbai, August 26, 2024 – Exhicon Events Media Solutions Limited, a leader in the Exhibitions, Conferences, and Events industry, has announced the acquisition of a 76% majority stake in Perfect Octave Limited, a prominent player in the Indian non-film music and corporate film production space.
This marks Exhicon’s 8th subsidiary acquisition since its listing, continuously showcasing its strategic initiatives to lead the Events & Exhibitions industry.
Acquisition Details:
Exhicon has acquired a 76% majority stake in Perfect Octave Limited for a total consideration of INR 8.52 crores. The acquisition will be executed through a mix of cash and equity, with Exhicon paying INR 51 lakhs in cash and issuing 2,00,459 equity shares at INR 400 per share. This transaction is subject to the necessary approvals from the Board, exchange, and relevant authorities.
Perfect Octave Limited is known for its expertise in the production and management of entertainment events, musical performances, and corporate videos. Its extensive portfolio, including a library of approximately 1,200 high-definition music IP tracks, will significantly enhance Exhicon’s content offerings.
From a financial perspective, this acquisition represents a strategic value investment for Exhicon. Perfect Octave’s enterprise value is pegged at INR 11.22 crores. In FY 2024, the company reported revenue of INR 13 crores and a PAT of INR 1.25 crores, reflecting a 9.6% margin. Looking forward, a 40% revenue growth is projected for FY 2025, with an anticipated increase in PAT margin to 15%.
This acquisition aligns with Exhicon’s strategic vision to expand its presence in the live events and music concert sector. By integrating Perfect Octave’s capabilities, Exhicon aims to collaborate with renowned musicians and emerging talents, potentially increasing revenue from live performances and brand endorsements. Furthermore, Perfect Octave’s existing partnerships with reputable music institutions present new opportunities in music education, creating an additional revenue stream for Exhicon.
Leadership Statements:
Mr. M. Q. Syed, Chairman & Managing Director of Exhicon Events Media Solutions, commented on the strategic move:
“This acquisition represents a significant milestone in our growth strategy, perfectly aligning with our vision to expand our footprint in the live events and music concert sector. Perfect Octave’s expertise in producing and managing entertainment events, coupled with their impressive library of high-definition music IPs, will substantially enhance our service portfolio. We’re particularly excited about the opportunities this brings in artist collaboration, music education, and capitalizing on the burgeoning content economy. The synergies between our companies will undoubtedly create immense value for our stakeholders and further solidify our position as an industry leader.”
Dr. Ratish Tagde, Promoter of Perfect Octave, shared his perspective on the partnership:
“Joining forces with Exhicon marks an exciting new chapter for Perfect Octave. This collaboration opens up tremendous growth opportunities for our company and the talented artists we work with. By leveraging Exhicon’s extensive experience in the events industry and our expertise in music and entertainment, we are poised to create powerful synergies that will tap into the huge business potential of live performance event IPs. Our shared vision for innovation and growth in the non-film music sector, which has seen remarkable expansion post-Covid in India, sets a strong foundation for our future success together.”
About Exhicon Events Media Solutions Limited
Incorporated in 2010, Exhicon Events Media Solutions Limited provides comprehensive services for the Exhibitions, Conferences, and Events industry. The company offers a wide range of products and solutions, including media and integrated marketing, event infrastructure, and management.
Exhicon excels in designing and constructing B2B and B2C events, securing permissions, and providing event setups across multiple cities in India. Serving clients from various sectors like Hospitality, FMCG, and Healthcare, the company also offers media and advertising services, ensuring operational efficiency and value in event organization.
Disclaimer
This document contains forward-looking statements, which are not historical facts and are subject to risks and uncertainties such as government actions, local developments, and technological risks. The Company is not responsible for any actions taken based on these statements and does not commit to publicly updating them to reflect future events or circumstances.
For Further Information, Please Contact:
Company Investor Relations:
Exhicon Events Media Solutions Limited
Pranjul Jain
Company Secretary & Compliance Officer
+91 88270 95588
www.exhicongroup.com
Advisors:
ConfideLeap Partners
Hemanshu Shukla
info@confideleap.com
+91 85911 45959
www.confideleap.com