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Exhicon Event Media Solutions Limited announced its plan to acquire a 76 per cent equity stake in Perfect-Octave Limited (POL) for ₹8.53 crore.
The company signed a Memorandum of Understanding with POL on August 26, 2024, aiming to enhance its capabilities in live events and corporate video productions.
The shares of Exhicon Event Media Solutions Limited were trading at ₹331, up by ₹18.85 or 6.04 per cent on the BSE today at 9:50 am.
The acquisition, expected to close within three months of signing the Share Purchase Agreement, will be financed through a cash payment of ₹51 lakh and the issuance of 2,00,459 Exhicon equity shares at ₹400 per share.
POL works to produce entertainment events, musical performances, and corporate videos. It reported a turnover of ₹12.99 crore for FY 2024.
This move aligns with Exhicon’s plan to expand its footprint in the live events and music concert industry. The company expects to benefit from POL’s extensive IP library of non-film music genres and its established presence in the entertainment sector.
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