Kings XI Punjab ropes in EbixCash as Title Sponsor for VIVO IPL 2020
October 22 2019 - 7:23AM
Kickstarting the VIVO Indian Premier League 2020 on a good note,
Kings XI Punjab has announced EbixCash, India’s largest financial
exchange disruptor as their title sponsor. To begin with, the
international cricket franchise and EbixCash have agreed on a
three-year association. The team also welcomed former Indian
cricketing legend Anil Kumble as the Director of Cricket Operations
for the twelfth edition of the league.
EbixCash is a subsidiary of Ebix, Inc.
(NASDAQ:EBIX) that today transacts $18 Billion in Gross merchandise
value (GMV) on its platforms, besides being a end-to-end services
market leader in the financial exchange industry.
To mark this momentous occasion and unveil the
official jersey, Robin Raina, CEO, EbixCash was present along with
Satish Menon, CEO, Kings XI Punjab, Anil Kumble, Director of
Cricket Operations, Kings XI Punjab and Arshad Nizam Shawl,
Director and Co-founder of Alliance Advertising and Marketing.
EbixCash will be seen on the front of the KXIP’s playing jersey for
the next three seasons of VIVO Indian Premier League.
Speaking on the association, Robin Raina,
Chairman, President and CEO Ebix stated, “EbixCash is thrilled to
partner with Kings XI Punjab for the upcoming season. We see Kings
XI Punjab as one of the strongest teams in the Indian Premier
League and their passion, commitment and lively Punjabi culture are
commendable. This partnership will provide us with a unique
opportunity to connect with the audience across India.”
Satish Menon, Chief Executive Officer, Kings XI
Punjab, said, “We are pleased to associate with EbixCash and
welcome them as our title sponsors. The VIVO IPL 2020 is a fresh
start for us, and we believe that it will be a mutually beneficial
and fruitful journey for both brands."
Commenting on Anil Kumble’s appointment, Satish
added, “We are excited to have Anil Kumble, a calm and composed
legend as the Director of Cricket Operations. With his vast
experience and knowledge of the game, we are absolutely confident
that it will add great value to the franchise and provide a
learning opportunity for the young and experienced talent in the
squad.”
Anil Kumble, Director of Cricket Operations,
Kings XI Punjab said, “I am looking forward to work with the
fantastic mix of young and seasoned players in the squad. Coming
back as a coach of a cricket team again, I hope to make a
significant contribution to KXIP’s journey ahead.”
The VIVO Indian Premier League (IPL) is an
international professional Twenty20 cricket league played in India,
with participation from international players across the world
based on an NBA style bidding and auction process. The league is
contested during April and May of every year by eight teams
representing eight different cities in India. With a television
audience of approximately 700 million that watched the IPL league
on television in 2018, the VIVO IPL is one of the most-watched
sporting events in the world.
In 2010, the IPL became the first sporting event
in the world to be also broadcast live on YouTube. The brand value
of VIVO IPL in 2019 was estimated at approximately US$6.7 billion,
according to Duff & Phelps. The hunger of ordinary Indians for
cricket and especially VIVO IPL can be gauged from the fact that
the number of Indians who watched VIVO IPL in 2018, were more than
the number of Indians who voted in the 2018 general elections in
the country.
About EbixCash
An Ebix (NASDAQ: EBIX) group initiative,
EbixCash is emerging as one of the leading financial exchanges in
India. With a "Phygital” strategy that combines 320,000 physical
distribution outlets in many Southeast Asian Nations (“ASEAN”)
countries, to an Omni-channel online digital platform, the
Company’s EbixCash Financial exchange portfolio encompasses
leadership in areas of domestic & international money
remittance, foreign exchange (Forex), travel, pre-paid & gift
cards, utility payments, lending, wealth management etc. in India
and other markets.
EbixCash’s Forex operations have emerged as a
leader in India’s airport Foreign Exchange business with operations
in 32 international airports including Delhi, Mumbai, Bangalore,
Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in
gross transaction value per year. EbixCash’s inward remittance
business in India conducts approx. $6.5 billion gross annual
remittance business, confirming its undisputed leadership position
in India. EbixCash, through its travel portfolio of Via and
Mercury, is also one of Southeast Asia’s leading travel exchanges
with over 2,200+ employees, 212,450+ agent network, 25 branches and
over 9,800 corporate clients; processing an estimated $2.5 billion
in gross merchandise value per year. The Company has also signed an
agreement to acquire Yatra Online subject to regulatory and Yatra
shareholder approvals. Once that acquisition is complete,
EbixCash’s leadership in the corporate, B2B, luxury and MICE
businesses would be unrivaled by any player in the Indian
markets.
CONTACT:
Darren JosephIR@ebix.com or +1 678 281 2027
David Collins or Chris EddyCatalyst Global + 1 212-924-9800 or
ebix@catalyst-ir.com
Ebix (NASDAQ:EBIX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Ebix (NASDAQ:EBIX)
Historical Stock Chart
From Jul 2023 to Jul 2024