Key Quantitative Figures

  • Transfer of 52,500 equity shares in Exhicon Mohali Convention Centre Private Limited (EMCCPL), representing 35% of its paid-up equity share capital.
  • Cash consideration: ₹5,25,000 (Indian Rupees Five Lakhs Twenty-Five Thousand only).
  • Projected cost of Mohali Convention & Exhibition Centre Project: ₹75 Crore.
  • Share price: ₹10 per equity share.

Parties Involved

  • Exhicon Events Media Solutions Limited ("Company" or "JV Partner 1")
  • India Exposition Mart Limited ("IEML" or "JV Partner 2")
  • Exhicon Mohali Convention Centre Private Limited ("JV Company" or "EMCCPL")

Purpose and Rationale

The Joint Venture Agreement records the respective rights and obligations of Exhicon and IEML in relation to the ownership, management, governance and funding of EMCCPL. EMCCPL has been incorporated as the special purpose vehicle for undertaking the development, financing, implementation, operation and maintenance of the Mohali Convention & Exhibition Centre at IT City, Sector 83, Mohali, Punjab on a PPP model with the Government of Punjab.

Financial and Operational Impact

  • Post-transfer shareholding in EMCCPL: Exhicon 65%, IEML 35%
  • EMCCPL will cease to be a wholly owned subsidiary but will continue as a subsidiary of the Company
  • The transaction does not constitute a related party transaction as IEML is not a related party of the Company
  • EMCCPL did not contribute to the turnover/revenue/income or net worth of the Company during the financial year ended March 31, 2026

Capital Structure and Governance Impact

  • Board composition of EMCCPL: Three directors, with two nominated by Exhicon and one nominated by IEML
  • Right to nominate a director continues for so long as the concerned JV partner holds at least 25% of the paid-up share capital of EMCCPL
  • Specified affirmative-vote matters will require prior written consent of IEML
  • Future project capital requirements will be contributed by JV partners in proportion to their respective shareholding through rights issues
  • No change in management or control of the listed company
  • No potential conflict of interest identified

Additional Details

  • The disclosure is available on the company website: https://exhiconevents.in/
  • Company Secretary and Compliance Officer: Pranjul Jain (Membership No. A67725)
  • Company CIN: L74990MH2010PLC208218
  • Corporate Office: Unit No. 134 & 146, 1st Floor, Andheri Industrial Estate, Plot No. 22, Veera Desai Road, Andheri West, Mumbai - 400053, Maharashtra, India