Exhicon Occasions Media Options Ltd. (an Exhicon Group Firm), listed on the BSE, has acquired 89.99 p.c of the fairness shares of United Helicharters Non-public Restricted from Gulf Helicopters Firm Q.S.C, a unit of Qatar Basic Petroleum Company, primarily based in Doha, State of Qatar.
United Helicharters Non-public Restricted was included on February 26, 1998, below the provisions of the Corporations Act, 1956, with its registered workplace located at Hangar No. C-2, Airports Authority of India, Civil Aerodrome, Juhu, Mumbai – 400056, Maharashtra, India.
The price of the acquisition (together with liabilities), as per the corporate’s announcement on the BSE, is Rs 17.66 Cr.
UHPL focuses on offering helicopter constitution companies for company journey, medical evacuation, aerial surveys, upkeep analysis, and overhaul (MRO) companies, aviation coaching, and helicopter parking companies for private and non-private sector corporations in India.
UHPL has over 15,000 sqm of services at Pawan Hans, Juhu Airport, Mumbai, along with its bases situated on the west and east coasts of India.
UHPL’s fleet has logged over 62,000 flying hours so far. In recognition of its security report, Bell Helicopters Textron awarded UHPL with a “Certificates of Recognition” for reaching the best security report in India.
M Q Syed, Chairman of the Exhicon Group, knowledgeable, “This is likely one of the most necessary acquisitions by Exhicon after the corporate was listed on the BSE final yr.”
Elated with the deal, Syed additional stated, “The acquisition is poised to bolster Exhicon’s place in aviation, non secular tourism, and the MICE enterprise (conferences, incentives, conferences, and exhibitions) by increasing its portfolio and geographic attain.”
Padma Mishra, promoter of Exhicon, stated, “It’s a matter of satisfaction that an Indian SME has been in a position to purchase a subsidiary of a authorities firm of Qatar. UHPL is the one aviation firm in India to have executed abroad contracts for working exterior the nation (Southeast Asia – Cambodia and Indonesia) for offshore logistic help companies.”
With this acquisition, Exhicon goals to boost companies and experiences for its clientele, catering to the varied wants of PSU, non-public sector corporations, non secular pilgrims, and enterprise vacationers.
The acquisition is the sixth in a row for Exhicon within the final yr, one among them being exterior India and one among them from Qatar Petroleum and Gulf Helicopters, Doha, Qatar.