QInvest has acquired a stake in India’s Asian Business Exhibition and Conferences. The Qatar’s investment bank said it had bought the stake successfully in ABECL, India’s foremost exhibitions and conferences organizer. ABECL’s boasts a portfolio inclusive of 15 exhibitions made up of 65 events that span nine industry verticals.
That includes the renowned, world class events such as ACETech. However, the Indian business is as well a player in other sectors such as education, real estate and lifestyle. Analysts have predicted that even though it is in its infancy compared to other Asian markets like China and Japan, the Indian exhibitions market will considerably expand in size, mainly due to India’s rapid GDP growth and its increasingly crucial role in Global commerce.
ABECL said the proceeds from the Qatar firm’s investment will be put into additional expansion of the firm’s operations in India and for the set up of an international foothold.
Surendra Mohan Gandhi, ABECL Chairman said partnering with QInvest will accelerate the firm’s endeavor of institutionalizing ABECL. Gandhi reiterated his delight over the deal, saying working with QInvest will enable ABECL benefit from their experience in helping organizations through this kind of transition.
QInvest shares ABECL’s 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, said Gandhi.
On his part however, commenting on the deal Shahzad Shahbaz, QInvest Chief Executive Officer said the investment fits well into QInvest’s strategy of supporting well-managed companies with strong growth potential in the MENASA region. He further added that the investment is demonstrative of QInvest’s confidence in the Indian economy and its appetite to deploy capital in the country.
ABECL has established itself as the leading player in the fast growing trade exhibition sector in India. QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorized by the Qatar Financial Centre Regulatory Authority. The Bank has authorized capital of US$1 billion and paid up capital of US$706 million and growing.
The firm’s business lines include investment banking, investment management, brokerage and wealth management; with dedicated origination and placement teams. QInvest has around 133 staff, including 65 front office professionals. The firm has relentlessly pursued opportunities across its chosen markets of the Middle East, Africa, Turkey, South Asia and South-East Asia.
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