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Stock Report
Exhicon Events Media Solutions Ltd acquires controlling stake in Pinewoods Golf Club
Posted On : 2024-01-17 14:04:21( TIMEZONE : IST )
Exhicon Events Media Solutions Limited ("Exhicon"), India's only 360-degree event & exhibition Company announced yesterday that it has signed MOU with Pinewoods Golf Club LLP, to acquire a controlling 76% stake in Pinewoods Golf Club LLP.
This acquisition includes management rights to manage two expansive golf courses, covering a total of 73 acres, located at the Lodha Belmondo on the Mumbai-Pune Expressway and Blue Ridge, a 28-acre Golf Course in Hinjewadi, Pune.
The deal encompasses control over key facilities, including the Pinewoods Golf Club and Academy, Event Arena, Pro Shops, Cafés, Golf Lounges, and Golf Simulator.
M. Q. Syed, Chairman & Managing Director of Exhicon, described the move as a groundbreaking entry into the burgeoning Golfing Tourism Industry in India. Syed said "The flourishing Golf Tourism is being driven by factors such as increasing interest in golf as a recreational activity, the development of golf courses, and the expanding use of Golf Courses for Business & Entertainment Events".
Addressing the relatively limited presence of Golf Course Management Companies in India, Syed expressed confidence that Exhicon's venture into this domain will significantly influence the Golfing Tourism industry.
Dr. Sandeep Sahasrabudhe, the visionary founder of Pinewoods Golf Club LLP, shared his excitement about the partnership with Exhicon. He said that this acquisition will provide the LLP, the wings needed for exponential growth and successful execution of expansion plans.
The Pinewoods Golf Club boasts a prestigious roster of celebrity members, including renowned sports figures such as Surya Kumar Yadav, Kiran More, Venkatesh Prasad, Wasim Jaffer, Ajinkya Rahane, Ajit Agarkar, Murali Kartik, Jemimah Rodrigues, Dhanraj Pillay, and others.
Shares of Exhicon Events Media Solutions Limited was last trading in BSE at Rs. 440.00 as compared to the previous close of Rs. 400.00. The total number of shares traded during the day was 152000 in over 232 trades.
The stock hit an intraday high of Rs. 440.00 and intraday low of 400.50. The net turnover during the day was Rs. 66104425.00.
