JV formed for Mohali Convention Centre Development

Exhicon Events Media Solutions Limited entered into a Joint Venture Agreement with India Exposition Mart Limited and Exhicon Mohali Convention Centre Private Limited to establish a major event venue in Mohali. Under the terms, Exhicon Events Media Solutions Limited transferred 52,500 equity shares of Exhicon Mohali Convention Centre Private Limited to India Exposition Mart Limited, securing a 35% stake. This acquisition was valued at INR 5,25,000, based on a price of INR 10 per equity share. Following the transfer, Exhicon Events Media Solutions Limited retained a 65% majority stake in the company.

The agreement establishes the operational framework for Exhicon Mohali Convention Centre Private Limited, which is tasked with the development, financing, implementation, operation, and maintenance of the Mohali Convention & Exhibition Centre. This collaboration marks a significant strategic move to create a major event and exhibition venue in the region.