Exhicon Event Media Solutions Ltd signs MOU with Perfect-Octave Ltd

Exhicon Event Media Solutions Limited ("Exhicon/the Company"), has signed the Memorandum of Understanding ("MOU") with Perfect-Octave Limited on August 26, 2024 for acquisition of 76% of the Equity Stake of the company. This acquisition is poised to enhance Exhicon's capabilities and broaden it's reach in the live events and corporate video productions.

Perfect Octave holds extensive IP's of non-film music genres, including classical, folk, devotional, and indie music and poised to add considerable top line and bottom-line to the Exhicon's consolidated financials.

Perfect Octave Limited specializes in producing and managing a wide range of entertainment events, radio and television programs, films, and musical performances, web series for reputed TV channels and OTT platforms. POL offers a comprehensive suite of services in the audio and video sector, addressing diverse industry needs.

The acquisition will significantly expand Exhicon's service portfolio, enabling the company to enter the high growth vibrant live events and music industry.

The consideration shall be discharged by way payment of Rs. 51,00,000/- (Rupees Fifty-One Lakhs Only) and issue of 2,00,459 Equity Shares of Exhicon Events Media Solutions Limited at Rs. 400/- (Rupees Four Hundred Only) per equity share and subject to the various approvals by Board, exchange or any relevant authorities.

Strategic Expansion: This acquisition aligns with Exhicon's strategic vision to expand its footprint in the live events & music concerts.

Artist Collaboration & Management: The acquisition will facilitate closer collaboration with music maestros and promising talented artists, ensuring more revenues for the Exhicon from the live performances and brand endorsements.

Music Education: Perfect Octave has tie ups with reputed Music Institutions and maestros to offer certifications courses, diplomas and degree courses to the aspiring music students in India and abroad. This will open up another robust revenue stream for Exhicon.

Capitalizing on the Content Economy - Maximizing Global Value of Our Music Catalogue: Our strategic pivot to harness the content economy shall unlock unprecedented global value for our shareholders. By leveraging cutting-edge streaming platforms, social media, and user-generated content ecosystems, Perfect Octave's growing music catalogue shall expand our reach into untapped Indian diaspora markets worldwide.

Commitment to Our 360 Degree Approach: The acquisition aligns with Exhicon's business plans, creating event and music IP's, live concerts, artist management in India to tap the revenue growth from the sector. Perfect Octave brings in expertise to facilitate this growth.

Shares of Exhicon Events Media Solutions Limited was last trading in BSE at Rs. 312.15 as compared to the previous close of Rs. 260.15. The total number of shares traded during the day was 353000 in over 506 trades.

The stock hit an intraday high of Rs. 312.15 and intraday low of 263.20. The net turnover during the day was Rs. 105056650.00.

Source : Equity Bulls

Keywords

ExhiconEventsMediaSolutions INE0O8901016 ConsumerServices MOU PerfectOctave Acquisition