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Micromax exits IPTL after losses close to Rs 24 crore

Micromax, the Indian electronic company will not be a stake holder in the International Premier Tennis League (IPTL) as the India franchise owner exits the league on account of losses incurred.

A 60 percent stake in the IPTL franchisee Indian Aces has been held by Micromax and now it has decided to stay away from the 2015 season.

Shubhajit Sen, the chief marketing officer of Micromax said that “We are not franchise holders anymore but will continue to be associated as a sponsor”.

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