Exhicon Events Media Solutions (Exhicon) has executed a Joint Venture Agreement (JVA) with India Exposition Mart (IEML) for its subsidiary, Exhicon Mohali Convention Centre (EMCCPL), which is developing the Mohali Convention & Exhibition Centre on a PPP model with Government of Punjab.

Under the terms of the agreement, Exhicon will transfer 35% of Exhicon Mohali Convention Centre's paid-up equity share capital to IEML for a cash consideration.

Exhicon will retain a 65% stake, with Exhicon Mohali Convention Centre, continuing as its subsidiary.

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 phase 1 of the project carries a projected cost of Rs 75 crore and will create a modern, large-scale venue to North India's exhibition and convention infrastructure — a region currently underserved by world-class MICE facilities.