BCCI Awards Dream11 Title Sponsorship Rights For IPL 2020, Tata Group Stays Away

The Board of Control for Cricket in India (BCCI) has awarded the title sponsorship rights of Indian Premier League (IPL) 2020 to fantasy cricket league platform Dream11. Already a partner of the BCCI, Dream11 outbid education-technology platforms Byju's and Unacademy to win the race.

Interestingly, the Tata Group stayed away from the IPL 2020 title sponsorship race. A hot favourite given their legacy as an Indian company with diverse interests including the promotion of Olympic sports, the Tata Group pulled out at the last moment.

Sources said the Tatas apparently wanted some "barter deal" in return for the IPL 2020 rights fee and the BCCI did not agree. If the Tata Group had bagged the IPL title rights, it would have been a first for them in cricket.

Dream11's winning bid was Rs 222 crores for a year. Unconfirmed sources say Byju's and Unacademy bids were substantially lesser. Byju's and Unacademy are already associated with BCCI as Indian cricket team sponsors and official partners of IPL, respectively.

The IPL 2020 title sponsorship fell vacant after Vivo, which had signed a 2000-crore-plus five-year deal (2018-2022) with BCCI, withdrew after the Boycott China campaign gathered steam in the wake of the India-China standoff at Galwan Valley in Ladakh in June. Vivo is fully funded by a Chinese company.

Outlook had reported that the title rights will go for around INR 250 crores. The figures suggested were research data numbers calculated based on past buying behavior and on-air spends and cash balance of these brands.

Dream11 is already a big spender on cricket. They are associated with at least six IPL teams and also with the International Cricket Council. With IPL coming up, Dream11 aims to rake in the moolah due to the return of live cricket.

The fantasy cricket league platform, which has MS Dhoni as its brand ambassador, gets funding from Chinese company Tencent but insiders say their bid this time was fuelled by a major Indian telecom major wanting a stranglehold on the online gaming world.

When the BCCI asked for bids for the IPL 2020 title rights last week, it had clearly said: "For the avoidance of doubt, it is clarified that BCCI shall not be obliged to award the Rights to the third party which indicates willingness to pay the highest fees in the course of discussions/ negotiations with BCCI after submitting an EOI.

"BCCI’s decision in this regard will also depend on a number of other relevant factors, including but not limited to, the manner in which the third party intends to exploit the Rights and the potential impact of the same on brand IPL as also the fan/viewer experience, which will be examined/ evaluated by BCCI in the course of discussions/ negotiations with interested third parties who submit an EOI."

It is now clear that the BCCI went for money and not the desi (Indian) image of a brand like Unacademy.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

JioMart , Reliance's online-to-offline commerce platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went live in 200 cities across India, is currently processing an average of 500,000 orders per day. " We can go even higher on peak days", Jio Platforms CEO Kiran Thomas revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of kiranas and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials." "Customers are transacting seamlessly on JioMart and the conversational nature of the service enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p

Abhishek Securities

Search This Blog