EbixCash Travels Emerges as the Leading Travel & Forex partner to Majority of the Franchises for IPL - Asia’s Largest Sporting Event in the Last 12 Months

NOIDA, India and JOHNS CREEK, Ga., Sept. 10, 2020 (GLOBE NEWSWIRE) -- EbixCash, a fully owned subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that it is handling the travel needs for five of the eight franchises involved in a 82-day Indian Premier League (IPL) cricket sporting extravaganza in Dubai. Telecast in 8 languages,  IPL is seen as one the most watched sporting events in the world with 2019 viewership of 462 million across TV and Digital.

Under the leadership of the Mr. Naveen Kundu, Managing Director for EbixCash Tours & Travels, EbixCash has been able to secure this prestigious assignment that involves end to end needs for many franchises including chartered flights, ground transportation, foreign exchange, hotel rooms and event insurance coverage. As a part of this engagement of EbixCash independently by five of the IPL Franchises, EbixCash is handling –

  • Approximately 19,000 plus hotel room night bookings for four (4) franchises
  • Chartered flights for five (5) franchises
  • Ground transportation for two (2) franchises
  • Foreign exchange needs for entire entourage of four (4) of the teams
  • Event insurance coverage for one (1) team

Kings XI Punjab, Delhi Capitals, Rajasthan Royals, Kolkata Knight Riders and Chennai Super Kings are the five franchises who have engaged EbixCash Tours and Travels for varied travel needs of each of the franchises. The Indian Premier League (IPL) is a professional Twenty20 cricket league in India contested every year by eight teams involving players from across the world, representing eight different cities in India.

EbixCash, through its EbixCash travel portfolio encompassing many sub brands like Via, Sasti ticket 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.

Naveen Kundu, Managing Director of EbixCash Tours & Travels said, “We are honoured to have been chosen as the vendor of choice by the majority of the IPL franchises. Their decision was made easier with EbixCash emerging as the only end-to-end services provider who could handle their varied needs under one window. Our depth of products and services, international expanse, travel expertise and past record was instrumental in us being selected for this prestigious engagement.”

Robin Raina, Chairman of the Board, President & CEO, Ebix, said: “In Covid-19 times, when most travel providers are struggling, we have managed to secure this prestigious win. I congratulate Naveen and his team for this engagement. I am especially pleased that Naveen has started his taking over as MD of EbixCash Tours and Travels on this strong note. He has a fantastic record with us over the last two years, having grown the Mercury travel division that he previously headed for us, by more than three hundred percent over a span of two years.”

About EbixCash and Ebix, Inc.

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. For more information, visit the Company’s website at www.ebixcash.com.

With 50+ offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sector, Ebix’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service ("SaaS") enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world. For more information, visit the Company’s website at www.ebix.com.  

Contact details:

Darren Joseph

IR@ebix.com or 678 281 2027

David Collins or Chris Eddy

Catalyst Global - 212-924-9800 or ebix@catalyst-ir.com

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