He has bought the equity stake at a valuation of $5.5 Mn.
Pranav Premnarayen, Partner Prem Associates Advtsg & Mktg has bought a 10% equity stake at a valuation of $5.5 Mil in ITMagia. 2 years back Rannvijay Singh also bought a 10% equity in the same company adding more firepower behind the brand. Further to enhance the value of sports brands Pranav collaborated with ITMagia as well. ITMagia is a premier sports management and infrastructure company founded by Hemant Sharma and Arpit Gupta in 2012.
ITMagia is known for conceptualizing and executing some of the finest sports events in the country. They are also known to have built some of the best sports infrastructures in Delhi/NCR which exceeds the expectation of the daily user. ITMagia holds the Limca Book of Record for the biggest corporate football tournament in India - Legends Cup. ITMagia's impressive track record has seen them work with over 750+ Corporate companies across India including Red Bull, Budweiser, Huawei, Adidas, Ernst & Young, Deloitte, Bayern Munich, LaLiga, to name a few.
Pranav Premnarayen covers all the major aspects of marketing and advertising practices including ATL (Print, TV, Online, Radio, Outdoor, and Production), BTL, on-ground events, Public Relations, Content Development, and many other activities. Other than this Pranav Premnarayen is an Executive Committee member of the Advertising Agency Association of India and is the co-founder of Legends Cup, Creators Premier League (football), and Streetball League (Basketball).
"We are delighted to have Pranav Premnarayen as our business partner. This company was our dream project, and we are extremely happy with whatever we have achieved in such a short span of time. Pranav comes in with a vast pool of advertising and marketing knowledge, and a shared enthusiasm for sports. It's a great feeling to have a friend who believes in the same vision and shares the same passion to accomplish the goal we have set for ourselves. We are looking forward to this fantastic journey, hoping this to be a truly amazing one,” quoted by Hemant Sharma, co-founder, ITMagia Solution.
On this occasion, Pranav said, "We are in an evolutionary space in the history of sports in India, sports like Football, Kabbadi, Wrestling, and Badminton, are finally getting their due importance and the applause they always deserved. There is an urgent need to increase the value of sports and benefit communities and sports practitioners across our country. Having known ITMagia for quite some time now, I know they are on the right trajectory. I am delighted to be a part of this revolution with Hemant, Arpit, and Rannvijay."
Roadies Host, Actor & Investing Partner in ITMagia, Rannvijay Singh said, "We are delighted to have Pranav as a part of this great institution and initiative. Pranav shares the same passion and drives that we all do and it's always good to have a friend come along for the journey. We are looking forward to growing this into a household name."
One of the major projects of ITMagia which really caught the eye of everyone is, Adidas The Base Delhi, which is by far India's coolest football venue. It includes 3 of the best football fields for hosting tournaments or pay n play for amateur and professionals alike. In addition to The Base, ITMagia as of today owns 5 venues with 9 grounds across Delhi/NCR. ITMagia is also known for organizing events like the Champions Cup, FC Bayern Youth Cup, CII SoccerFest, Budweiser Cup 6V6, Adidas Uprising Delhi, Red Bull Neymar Jr., Google World Cup, and many more.
(We got this information in a press release).