Eraaya Lifespaces Secures Landmark Deal: Ebix Travel To Oversee Travel & Hospitality For Top T20 Teams

Three well-known teams from the 2025 T20 Cricket season-the Punjab Kings, Royal Challengers Bangalore, and Kolkata Knight Riders-have signed contracts with Eraaya Lifespaces Limited's Indian subsidiary, Ebix Travels Pvt. Ltd., to manage their travel and hospitality needs, the company announced on Thursday.

Under these agreements, Ebix Travels will assist the teams' domestic matches by offering end-to-end logistical support, including lodging, transportation, and other associated services.

Naveen Kundu, Managing Director of Ebix Travels, said, "We are thrilled to collaborate with some of the biggest names in Indian cricket. Our goal is to provide seamless travel and hospitality experiences, ensuring the teams can focus enƟrely on their performance. This partnership strengthens our commitment to excellence in the travel industry, and we look forward to delivering the highest standards of service to these presƟgious teams."

Eraaya Lifespaces Limited announced last week on Friday that Royal Challengers Bengaluru (RCB) and its subsidiary EbixCash have joined forces as an Official Partner for the 2025 T20 cricket season. With this strategic partnership, EbixCash achieves a major milestone as it leverages cricket's enormous appeal to fortify its position in the Indian market. Being an Official Partner of RCB would provide EbixCash with a wide range of engagement channels, such as stadium branding, digital promotions, and special fan interactions, as well as high brand visibility.

T C Guruprasad, CEO and Managing Director at EbixCash Limited-Payment Solu ons, said: "We are thrilled to partner with Royal Challengers Bengaluru, a team that embodies excellence, passion, and resilience. This collabora on will allow EbixCash to deepen its connec on with cricket fans while reinforcing our brand's commitment to innova on and customer-centric solu ons."

Rajesh V Menon, COO, Royal Challengers Bengaluru, said, "We are excited to partner with EbixCash, a brand that represents excellence, innova on, and customer-centric solu ons extending its bond with cricket fans while further enhancing our commitment to delivering excep onal experiences both on and off the field."

Recently the firm announced that its Indian subsidiary, EbixCash, has been chosen as a partner for Operating & Managing the Data Center-1 of Central PSU ITI Limited (Government of India Initiative), Eraaya Lifespaces is poised to draw the attention of market observers. EbixCash, a subsidiary of Eraaya Lifespaces Ltd., has been chosen by ITI Limited, which is part of the Ministry of Communications, Government of India, as its Technology Partner for running and overseeing its MeitY-empanelled Data Centre (DC).

This esteemed deal has an order value of more than Rs 100 crore and lasts for five years. Additionally, ITI has built 1,000 rack spaces for the Data Centre, with EbixCash acting as the consultant for this project. Additionally, EbixCash has the ability to handle the facility's operational and maintenance needs as well as those of other potential customers.

The contract agreement to carry out this key initiative for ITI Limited, a Central Public Sector Undertaking, has been formally accepted by EbixCash's Data Centre division. This accomplishment demonstrates Eraaya Lifespaces Ltd.'s ongoing dedication to providing top-notch technology and data management solutions.

"The initial term of this contract is five years. This new agreement includes, but is not limited to, data centre administrative activities, pre-sales and solution support during customer engagement, operations, maintenance, and management of the data centre, as well as customer relationship management and marketing support over the next five years," said Eraaya Lifespaces in a stock exchange filing.

The Data Centre division subsidiary of Eraaya Lifespaces Limited now manages data centres for major customers in the BFSI industry, government agencies, MNS, defence agencies, and enterprise clients. With over 40 data centres and disaster recovery (DR) sites built, the division specialises in data centre design and construction.

Following the company's announcement of a 10:1 stock split and the record date of December 6, 2024, for the subdivision of nominal value equity shares, the aforementioned transaction took place. The proposal to convert 20,963 equity shares of Rs. 10/-each was received before the nominal value of the equity shares was subdivided. Following the stock split from one equity share of Rs. 10/-each into 10 equity shares of Re. 1/-each, the Board of Directors decided to allocate 2,09,630 equity shares of Re. 1/-each on the conversion of FCCBs. The Karnataka State Road Transport Corporation (KSRTC) recently awarded EbixCash a 33.5 crore contract to implement a comprehensive ticketing system for a five-year period. Eraaya's India-based business, EbixCash Global Services ECOS, had previously inked multi-year contracts worth around Rs. 250 million a year.

Issuing a clarification against the litigation invoked by Vikas Lifecare, Eraaya Lifespaces said, "Eraaya Lifespaces Limited ("Eraaya") led a consortium for the purpose of acquiring Ebix Inc., which was under the Chapter 11 proceedings before the U. S. Bankruptcy Court, and as part of raising funds for acquisition, on May 24, 2024, ("Agreement") Eraaya had entered into an agreement with M/s Vikas Lifecare Limited ("VIKASLIFE") and in terms of the Agreement, VIKASLIFE had contributed/paid USD 34.827 Million towards the bid amount. However, before the completion of the acquisition process, the inter-se terms between the parties were amended on August 16, 2024 vide an Addendum to the Agreement which was executed between Eraaya and VIKASLIFE to record the repayment terms and consequences of non-payment thereof."

In an exchange filing to the BSE, Vikas Lifecare said, "We wish to inform you that the Company i.e. Vikas Lifecare Limited, as member of the Consortium led by Eraaya Lifespaces Limited (Eraaya), which acquired Ebix Inc., under Chapter 11 proceedings from U.S. Bankruptcy Court, had contributed USD 34.827 million towards the bid amount and, in pursuit of its rightful claims, has issued a Notice to Eraaya under Section 21 of the Arbitration and Conciliation Act, 1996, invoking arbitration, and with mutual consent appointed Hon'ble Mr. Justice (Retd.) Vinod Goel as the Sole Arbitrator."