The Company has entered into a License Agreement.
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Iconik Sports and Events (formerly ID Info Business Services) has signed a 10-year License Agreement with UAE-based World Tennis Company DWC-LLC (WTL). The deal gives the company rights to run the international World Tennis League in India, including matches, player auctions, and ceremonies featuring franchise-owned teams with both Indian and foreign players. Iconik will pay WTL a license fee equal to 40% of revenue earned from each event, payable within 60 days of completion. WTL's equity is valued at AED 376.86 million (roughly ₹860+ crore equivalent) across 3 lakh shares. This marks a major strategic shift from the company's earlier IT services identity into premium sports entertainment.
For shareholders, this is a bold new business direction with revenue upside if the tennis league gains traction in India, but execution risk is high as the company steps into an unfamiliar industry. No upfront cash outflow was disclosed — fees are linked to revenues — which limits downside but also means profits depend entirely on league success. No revenue projections or financial commitments were shared.