Eighty-nine percent of United Helicharters is acquired by Exhicon

Gulf Helicopters Company Q.S.C., a division of Qatar General Petroleum Corporation, with its headquarters located in Doha, State of Qatar, has sold 89.99 percent of the equity shares of United Helicharters Private Limited to Exhicon Events Media Solutions Ltd. (an Exhicon Group Company), listed on the BSE.

In accordance with the Companies Act of 1956, United Helicharters Private Limited was established on February 26, 1998. Its registered office is located at Hangar No. C-2, Airports Authority of India, Civil Aerodrome, Juhu, Mumbai, 400056, Maharashtra, India.
The acquisition’s total cost, including liabilities, is Rs 17.66 crore, the business said on the BSE.

For both public and private sector businesses in India, UHPL specializes in offering helicopter charter services for business travel, medical evacuation, aerial surveys, maintenance, repair, and overhaul (MRO) services, aviation instruction, and helicopter parking.
UHPL has bases on the east and west coasts of India in addition to its more than 15,000 square meter facilities at Pawan Hans, Juhu Airport, Mumbai.

The UHPL fleet has accrued more than 62,000 flight hours so far. Bell Helicopters Textron presented UHPL with a “Certificate of Recognition” for attaining the best safety record in India in appreciation of the company’s safety record.
“This is one of the most important acquisitions by Exhicon after the company was listed on the BSE last year,” said M Q Syed, Chairman of the Exhicon Group.

pleased with the purchase, Syed said, “The acquisition is poised to bolster Exhicon’s position in aviation, religious tourism, and the MICE business (meetings, incentives, conferences, and exhibitions) by expanding its portfolio and geographic reach.”
“It’s a matter of pride that an Indian SME has been able to acquire a subsidiary of a government company of Qatar,” said Padma Mishra, the founder of Exhicon.

The sole aviation firm in India, UHPL, has completed contracts to provide offshore logistic support services outside of the nation (in Southeast Asia, namely in Cambodia and Indonesia).
Exhicon hopes to improve services and experiences for its customers with this purchase, meeting the various demands of PSUs, businesses in the private sector, pilgrims on religious pilgrimages, and business travelers.
This is Exhicon’s sixth purchase in as many months; two of them came from Qatar Petroleum and Gulf Helicopters, Doha, Qatar, and one from outside of India.