Spenta Multimedia, an Indian publishing company has acquired Mumbai Boat Show, the owner of Mumbai International Boat Show and Blue Water Publications, which publishes India Boating Magazine.
The Mumbai International Boat Show, currently in its fourth year, is according to a press statement, the third "official" calendar event in Mumbai, after the Standard Chartered Mumbai Marathon and The Times of India Mumbai Festival. It is supported by the government of Maharashtra.
India Boating Magazine, in its third year, caters to the Indian yachting and boating community.
Commenting further on the development, Davar tells afaqs!, "We saw it (Mumbai Boat Show) as a niche product for high net-worth individuals. It came with a package of a successful boat show. We thought it was a space Spenta should occupy".
"The price was attractive too," Davar adds, without further disclosing the terms of the deal.
Sujay Chohan, promoter, Blue Water Publications and Mumbai Boat Show says, "We decided to exit Mumbai International Boat Show and India Boating Magazine in order to enable a greater focus on our boat manufacturing business."
Spenta's portfolio of magazines includes over 20 custom and four consumer magazines spread over the travel, lifestyle, business, finance, and retail space. The portfolio currently includes Jetwings, Jetwings International, Flylite, The Chartered Accountant Journal, Solitaire International, Imperia, AAG, First Update, Hello, Hair, Marwar, Liquid and The Smart Manager.