Press Release26 Aug 2024, 09:39 pm
Exhicon Acquires 76% Stake in Perfect Octave for INR 8.52 Crores
AI Summary
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. The acquisition, worth INR 8.52 crores, will be executed through a mix of cash and equity. Perfect Octave's extensive portfolio and financial performance make it a strategic value investment for Exhicon, aligning with its vision to expand in the live events and music concert sector.
Key Highlights
- Exhicon's 8th subsidiary acquisition since listing, showcasing strategic initiatives to lead the Events & Exhibitions industry.
- Acquisition of 76% majority stake in Perfect Octave Limited for INR 8.52 crores through cash and equity.
- Perfect Octave known for its expertise in entertainment events, musical performances, and corporate videos, with a library of approximately 1,200 high-definition music IP tracks.
- Perfect Octave reported revenue of INR 13 crores and a PAT of INR 1.25 crores in FY 2024, with a projected 40% revenue growth in FY 2025.
- Acquisition aims to increase revenue from live performances, brand endorsements, and music education opportunities.