Exhicon Events Media Solutions Ltd signs SPA to acquire 89.99% in United Helicharters Pvt Ltd

Exhicon Events Media Solutions Limited ("the Company"/ "Purchaser"), has signed the Share Purchase Agreement ("SPA") with United Helicharters Private Limited ("Target"/ "UHPL") and Gulf Helicopters Company Q.S.C, a unit of Qatar General Petroleum Corporation, a Doha, State of Qatar based Company ("Seller") on the April 23nd, 2024 for acquisition of 89.99% of the Equity Share of United Helicharters Private Limited.

United Helicharters Private Limited/ UHPL, specializes in providing helicopter charter services for a variety of purposes, including corporate travel, medical evacuation, and aerial Surveys, Training and Aviation Parking Services for the the public and private sector companies in India. Based at the Pawan Hans, Juhu Airport, Mumbai, the company also operates bases located on the West and East Coast of India.

The acquisition is poised to bolster Exhicon's position in the Religious Tourism and the MICE business (Meetings, Incentives, Conferences, and Exhibitions) by expanding its portfolio and geographic reach. With the integration of complementary resources and expertise, Exhicon will enhance services and experiences to its clientele, catering to the diverse needs of PSU's, Pvt. Sector Companies, religious pilgrims, and business travelers.

UHPL fleet has logged over 62000 flying hours till date. In recognition of its achievement of safety record of the highest standards, Bell Helicopters Textron awarded UHPL with a "Certificate of Recognition" for achieving the highest safety record in India.

The cost of acquisition is USD 200,000 + provisional gross liability of approx. INR 16 Cr.

Shares of Exhicon Events Media Solutions Limited was last trading in BSE at Rs. 286.65 as compared to the previous close of Rs. 276.00. The total number of shares traded during the day was 177000 in over 237 trades.

The stock hit an intraday high of Rs. 305.00 and intraday low of 280.20. The net turnover during the day was Rs. 51802925.00.

Source : Equity Bulls

Keywords

ExhiconEventsMediaSolutions INE0O8901016 ConsumerServices Acquisition UnitedHelicharters