Exhicon raises Rs 140.93 Crores through preferential allotment
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Exhicon Events Media Solutions Limited, India's only fully integrated 360-degree exhibition and event services company listed on BSE, has successfully raised 140.93 crore through the allotment of convertible warrants on a preferential basis.
In its board meeting held on January 2, 2025, the company approved the issuance of 44,74,000 convertible warrants at a price of 315 per warrant, aggregating to 140.93 crore. This allotment, made to over 50 non-promoter investors, complies with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013.
Strategic Allocation of Funds
The proceeds from this fundraising will be utilized for:
New Business Acquisitions: Expanding the company's footprint and diversifying its service portfolio.
Development of Multipurpose Event Venues: Enhancing infrastructure and operational capabilities.
Working Capital Requirements: Strengthening liquidity to drive sustained growth.
Exhicon Events Media Solutions has achieved a net zero debt status, demonstrated robust financial performance over the past three financial years. This consistent growth reflects the company's effective business strategies and its commitment to delivering value to stakeholders.
Over the past 18 months, the company acquired majority or full equity stakes in eight companies across India and the UAE, enhancing its capabilities in the exhibition and event services value chain. The company continues to pursue strategic partnerships and acquisitions to drive both inorganic and organic growth.
M.Q. Syed, Chairman and Managing Director of Exhicon Group, commented:
"This successful capital raise underscores the confidence our existing investors place in Exhicon's listed entity’s growth trajectory and financial resilience. Our strong operational performance, global network and strategic investments in acquisitions positions us well to capitalize on the immense MICE industry opportunities. This funding will further strengthen our balance sheet and fuel our ambitious growth plans."
Disclaimer : The company Exhicon Events Media Solutions Limited, has issued this press release and it is paid for by them
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Topics : business
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First Published: Jan 07 2025 | 11:55 AM IST
