Exhicon Events Media Solutions Ltd has executed a Joint Venture Agreement with India Exposition Mart Limited (IEML) to develop the Mohali Convention & Exhibition Centre. The project, valued at ₹75 crore, is being undertaken through a special purpose vehicle on a public-private partnership model with the Government of Punjab.

Under the agreement signed on September 21, 2026, Exhicon agreed to transfer 35% of its wholly owned subsidiary, Exhicon Mohali Convention Centre Private Limited (EMCCPL), to IEML. The consideration for the 52,500 equity shares is ₹5,25,000. Following the transfer, which remains subject to dematerialisation and regulatory formalities, EMCCPL will cease to be a wholly owned subsidiary but will continue as a subsidiary of Exhicon.

Strategic Rationale and Sector Context

The partnership aims to strengthen both companies' foothold in India's growing MICE (Meetings, Incentives, Conferences, and Exhibitions) sector. The Mohali Convention & Exhibition Centre is being developed at IT City, Sector 83, Mohali, Punjab. Phase 1 of the project is designed to create a modern, large-scale venue addressing the region's current undersupply of world-class MICE facilities.

For Exhicon, the deal offers capital-efficient growth by bringing in a strategic partner to co-fund and de-risk a large-scale infrastructure project. This reduces the capital burden on the parent company while retaining majority (65%) ownership and control. IEML gains a strategic entry into the fast-growing Punjab-Chandigarh tri-city market, extending its presence beyond existing venues. Padma Mishra, Whole Time Director at Exhicon, stated that the partnership extends their reach into Punjab’s growing MICE industry. Mukesh Gupta, Director of IEML, described it as an important milestone in building a pan-India MICE network.

Governance and Ownership Structure

The Joint Venture Agreement outlines the rights and obligations of both partners regarding the ownership, management, and funding of EMCCPL. The post-transfer shareholding structure establishes a clear majority control for Exhicon while granting IEML significant minority protections.

Key Terms of the Agreement

The agreement stipulates that the Board of EMCCPL will comprise three directors. Exhicon retains the right to nominate two directors, while IEML may nominate one. This right continues as long as the respective partner holds at least 25% of the paid-up share capital. Specified affirmative-vote matters require prior written consent from IEML, ensuring minority protection in critical decisions.

Future capital requirements for the project will be contributed by the JV partners in proportion to their respective shareholdings through rights issues. The share transfer is governed by pre-emptive rights and other restrictions contained within the JVA. The JVA was approved by Exhicon's Corporate Restructuring and Investment Committee.

What the Numbers Show

A notable divergence exists between the nominal equity transfer value and the total project cost. While the consideration for the 35% stake is merely ₹5,25,000, the projected cost of the convention centre is ₹75 crore. This disparity suggests that the initial equity contribution is minimal relative to the overall capital expenditure, implying that the bulk of the funding will likely be raised through debt or future proportional capital calls as outlined in the agreement. Additionally, EMCCPL was incorporated in April 2026 and contributed no revenue or net worth to Exhicon in FY26, indicating the venture is in its nascent stage.

Exhicon Events Media Solutions has scheduled its 16th Annual General Meeting for Thursday, September 24, 2026. The meeting will be held at 9:00 am at the company’s registered office in Pune.

The firm announced the dispatch of its Annual Report for FY26 to shareholders who have not registered email addresses with the company, Registrar and Transfer Agent (RTA), or Depository Participants. This communication complies with Regulation 30 and Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Accessing the Annual Report

Shareholders can access the complete Annual Report for the financial year 2025-26 via the company’s website. The exact path is listed below:

The cut-off date for this dispatch was Friday, August 28, 2026. The information is also available on the company’s main website at exhiconevents.in.

Regulatory Compliance and KYC Updates

The notice serves as a reminder for security holders holding physical securities to update their Know Your Customer (KYC) details. This requirement stems from SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024.

The circular mandates that listed companies record PAN, address with PIN code, mobile number, bank account details, specimen signature, and nomination choice for physical holders. Shareholders are encouraged to register their email IDs to avail online services, though this is optional.

Payment Restrictions for Physical Holders

Effective April 1, 2024, folios lacking updated PAN, nomination, contact details, bank account details, or specimen signatures are eligible for payments only through electronic mode. This includes dividends, interest, or redemption payments.

Shareholders can access the required forms (ISR-1, ISR-2, ISR-3, SH-13, SH-14) and relevant SEBI circulars on the RTA’s website. Queries can be directed to the investor relations department or raised through the designated service request portal.