Exhicon Events Media Solutions Limited, India’s only fully integrated 360-degree exhibition and event services company listed on the BSE, has successfully raised ₹140.93 crore through the allotment of convertible warrants on a preferential basis.
The company’s board, in its meeting held on January 2, 2025, approved the issuance of 44,74,000 convertible warrants at a price of ₹315 per warrant, aggregating to ₹140.93 crore. The allotment, made to over 50 non-promoter investors, adheres to Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013.
Strategic allocation of funds
The funds raised through this allotment will be strategically utilized for:
- New Business Acquisitions: Expanding Exhicon’s footprint and diversifying its service offerings.
- Development of Multipurpose Event Venues: Enhancing infrastructure and operational capabilities.
- Working Capital Requirements: Strengthening liquidity to drive sustained growth.
Exhicon has achieved a net-zero debt status and demonstrated strong financial performance over the past three years. The company has acquired majority or full equity stakes in eight companies across India and the UAE over the last 18 months, boosting its capabilities in the exhibition and event services value chain. These strategic acquisitions underscore Exhicon’s commitment to driving both organic and inorganic growth.
Leadership perspective
M.Q. Syed, Chairman and Managing Director of Exhicon Group, stated:
“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 position us well to capitalize on the immense MICE industry opportunities. This funding will further strengthen our balance sheet and fuel our ambitious growth plans.”
Exhicon’s successful fundraising reflects its effective business strategies and solidifies its position as a leader in the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry.
