Exhicon, India Exposition Mart Form JV for Mohali Convention and Exhibition Centre

Exhicon and India Exposition Mart Join Forces for Mohali Convention Centre Development

The collaboration aims to enhance North India’s MICE infrastructure through a modern exhibition venue.

Strategic Partnership Details

Under the terms of the Joint Venture Agreement (JVA), Exhicon will transfer 35% of the paid-up equity share capital of its subsidiary, Exhicon Mohali Convention Centre (EMCCPL), to India Exposition Mart (IEML) for a cash consideration. This strategic move allows Exhicon to retain a 65% stake in the venture, ensuring that EMCCPL continues to operate as a subsidiary of Exhicon.

Project Overview and Financial Commitment

The Mohali Convention & Exhibition Centre is being developed at IT City, Sector 83, Mohali, Punjab, under a Public-Private Partnership (PPP) model with the Government of Punjab. The first phase of this ambitious project is projected to cost ₹75 crore, aimed at establishing a modern, large-scale venue that addresses the current deficit of world-class MICE facilities in North India.

Significance for North India’s MICE Sector

The establishment of the Mohali Convention & Exhibition Centre is expected to significantly enhance the MICE infrastructure in North India, a region that has been historically underserved in this regard. By providing a state-of-the-art venue, the project aims to attract national and international events, thereby boosting tourism and local economies.

Market Implications and Future Prospects

This joint venture not only reflects the growing demand for MICE facilities in India but also underscores the importance of public-private partnerships in infrastructure development. As the project progresses, it could serve as a model for similar initiatives across the country, potentially attracting further investments in the sector.

Key Highlights

• Exhicon retains a 65% stake in the Mohali Convention Centre.
• The project is being developed under a Public-Private Partnership model with the Government of Punjab.
• Phase 1 of the project has a projected cost of ₹75 crore.
• The centre aims to enhance North India’s MICE infrastructure.
• Joint venture reflects growing demand for world-class exhibition facilities.

Investor Note: The collaboration between Exhicon and India Exposition Mart could pave the way for enhanced MICE capabilities in North India, presenting potential investment opportunities in the region’s growing infrastructure landscape.