Tag Archives: Naveen Kundu

EbixCash becomes preferred travel & forex partner of 5 IPL teams

Ebixcash Tours & Travels has become the preferred travel & forex partner of 5 IPL teams. The company will handle travel needs of players and provide end to end support including charter flights, ground transportation, foreign exchange, hotel rooms and event insurance coverage.   A fully owned subsidiary of Ebix Inc., EbixCash has announced that it is handling the travel needs for five of the eight franchises involved in an 82-day Indian Premier League (IPL) cricket sporting extravaganza in Dubai. Under the leadership of Naveen Kundu, Managing Director, EbixCash Tours & Travels, EbixCash has been able to secure this prestigious assignment. 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 franchises, chartered flights for five franchises, ground transportation for two franchises, foreign exchange needs for the entire entourage of four of the teams and event insurance coverage for one 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. Sharing his views on the deal, Kundu says, “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 the 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, …

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Consolidation important, EbixCash will lookout for special interest acquisitions: Naveen Kundu

Analysing the revival plans for the tourism industry post-COVID-19crisis, Naveen Kundu, Managing Director, EbixCash Travel & Holidays has said that there will be a lot of behavioural changes in the industry including a complete price realignment for every tourism product. He said that post-COVID-19 crisis, rationalisation and consolidation will become important they will look at special interest acquisitions going forward when the situation is normalised.  “Ebix has always been bullish about the Indian market. Post COVID-19, there will be a complete paradigm shift in the industry, which will make a consolidation opportunity for us. We will be looking at special interest acquisition and continue the way we have progressed in the Indian market. Among sectors, I believe MiCE industry will be the first one to bounce back,” said Kundu.

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Ebix acquires Mercury Travels and Leisure Corp

Mercury Travels, based in Mumbai and Leisure Corp from Delhi has been acquired by one of the Indian subsidiaries of Ebix. Agreements have been signed for a cumulative amount of approximately $14.2 million. The acquisition has been done with an aim to create a new travel division by Ebix, which will focus on a niche segment of the travel market, and the new Travel Exchange will be called Mercury – An EbixCash Luxury initiative, to be headed by Leisure Corp Founder Naveen Kundu. The Mercury Exchange will have three tightly integrated components— Mercury Travel’s entire corporate, leisure & adventure related travel business with the exception of its Forex business; Leisure Corp’s entire sports and events related travel business (MICE) and Via.com’s events based travel business (MICE). Naveen Kundu will hold 15 per cent of shares in the new entity, while Ebix will have a controlling 85 per cent share in the venture. Mercury’s Forex business will be integrated into EbixCash’s existing CDL Forex exchange business. Ebix is an international supplier of on-demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries.

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