QInvest, a Qatar investment bank, has acquired a 28% stake in Asian Business Exhibition & Conferences Ltd (ABECL), an exhibitions and conferences organizer in India.
ABECL has a portfolio of 15 exhibitions consisting of c. 65 events spread across 9 industry verticals. It is established in 1994. QInvest has authorized capital of $1 billion and paid up capital of $750 million and has 130 staff.
QInvest is listed in the Middle East Investors Directory with the code LIP08.
Their full press release follows
QInvest, Qatar’s leading investment bank, has acquired a 28% stake in Asian Business Exhibition & Conferences Ltd (ABECL), India’s leading exhibitions and conferences organizer.
ABECL has established itself as the leading player in the fast growing trade exhibition sector in India. Its portfolio comprises 15 exhibitions consisting of c. 65 events spread across 9 industry verticals, including world-class events such as ACETech. ABECL is also a leader in segments such as Education, Realty and Lifestyle.
Although in its infancy compared to other Asian markets like China and Japan, the Indian trade exhibition market is expected to expand substantially as a result of the country’s rapid GDP growth and its increasingly important role in global trade.
The proceeds from the investment will be used to further expand ABECL’s operations in India and to establish an international presence.
Commenting on the deal, Surendra Mohan Gandhi, Chairman of ABECL, said: “Partnering with QInvest will accelerate our endeavor of institutionalizing ABECL. We are delighted to be working with QInvest to benefit from their experience in helping organizations through this kind of transition. QInvest shares our enthusiasm for the growth opportunity ahead of us. This partnership will greatly benefit all ABECL’s stakeholders and help us deliver the highest standards of service to our customers”.
Shahzad Shahbaz, CEO of QInvest, said: “We are impressed by ABECL’s achievements in the past few years and see tremendous potential for the company in the growing Indian trade exhibition market. We are pleased to partner with the Gandhi family and to support ABECL’s effort on its remarkable growth path”.
“This investment fits well into our strategy of supporting well-managed companies with strong growth potential in the MENASA region, and demonstrates our confidence in the Indian economy and our appetite to deploy capital in the country” added Shahbaz. QInvest will take a seat on ABECL’s Board of Directors.
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