Exhicon Event Media Solutions Limited has signed a Memorandum of Understanding (“MOU”) with Perfect-Octave Limited on August 26, 2024, to acquire a 76% equity stake in the company.
This acquisition is expected to significantly enhance Exhicon’s capabilities and expand its reach in live events and corporate video productions. Perfect Octave holds a diverse portfolio of intellectual property in non-film music genres, including classical, folk, devotional, and indie music, which is anticipated to contribute substantially to Exhicon’s revenue and profitability.
Perfect Octave Limited specializes in producing and managing a broad array of entertainment events, radio and television programs, films, musical performances, and web series for prestigious TV channels and OTT platforms. The company provides a comprehensive suite of services in the audio and video sector, catering to various industry needs.
The company boasts an extensive library of approximately 1,200 high-definition music tracks. Incorporated on May 19, 2003, POL has demonstrated notable financial growth over the past three years, with a turnover of Rs. 1,58,21,580 in FY 2022, Rs. 10,12,24,409 in FY 2023, and Rs. 12,98,78,920 in FY 2024, according to audited financial statements.