EbixCash Joins Delhi Capitals As Principal Sponsor
October 31 2019 - 7:23AM
Delhi Capitals, today announced the joining of EbixCash, India’s
largest financial exchange disruptor, as one of its principal
sponsors for the upcoming season of the VIVO Indian Premier League.
The financial and insurance service player will be associated with
Delhi Capitals for two seasons of the VIVO IPL (2020 and 2021),
during which EbixCash will be seen on the back of the playing
jersey.
EbixCash is a subsidiary of Ebix, Inc.
(NASDAQ:EBIX) that today transacts $18 Billion in Gross merchandise
value (GMV) on its platforms, besides being an end-to-end services
market leader in the financial exchange industry. “We
are thrilled to partner with Delhi Capitals over the next couple of
seasons of the VIVO IPL,” Robin Raina, Chairman, President and CEO,
EbixCash, said on the association. “Delhi Capitals is easily the
most exciting team of the league at the moment. With its array of
Indian talent and international superstars, Delhi Capitals is the
team to watch out for in subsequent editions of the IPL. We’re
excited to partner with a team and a brand hailing from Delhi,
India’s national capital, and one that brings with it, tremendous
potential and promise.”
“On behalf of Delhi Capitals, I’m delighted to
welcome on board EbixCash as one of the Principal Sponsors of our
team,” said CEO Dhiraj Malhotra. “After the third-place finish in
the 2019 edition, our team will be eyeing no less than the title in
the upcoming edition, and we’re excited to have EbixCash as a part
of our journey towards that goal. I am confident this will be a
mutually successful partnership for both brands.”
About VIVO IPL
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.
About Delhi Capitals
Delhi Capitals is one of the eight founding
teams that plays in the VIVO Indian Premier League (IPL). Co-owned
by the GMR Group and the JSW Group, Delhi Capitals was established
in 2008 as Delhi Daredevils before embracing a new avatar in
December 2018. The team finished third in the 2019 edition of the
tournament.
For further details, please
contact:
Darren Joseph IR@ebix.com or +1 678 281
2027
David Collins or Chris
Eddy ebix@catalyst-ir.com or + 1 212-924-9800
Suprita Das suprita.das@delhicapitals.in or
+91 9810442714
Devansh Singhania devansh@wordswork.in or
+91 8439826754
Zoya Khan zoya@wordswork.in or +91
9654196999
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