The Gurgaon-based business group has appointed former World No 1 Rashid Sidek as the chief coach of the side. The Malaysian had won the Thomas Cup and an Olympic bronze medal.
Krrish Group, which deals in distillery, breweries, construction and real estate, will make its debut in sports arena.
"We are very excited and proud to have bid and won the franchise for the Delhi team. With badminton being one of the most popular sports in the country we had no inhibition to bid for a franchise in the Indian Badminton League and we consider ourselves lucky that we got the team that we were for targeting for. What prompted us to venture into this League was the format as it promises to create a difference for budding talent at grass root level," Amit Katyal, Owner of the Krrish Group said.
The USD one-million IBL is set to launch on August 14, 2013, with a clash between Hyderabad Hotshots and Banga Beats.
The 2013 IBL will feature six franchises and will run for 18 days. Each franchise will host a two-day leg and the League will showcase a grand total of 90 matches.
The top four franchises in the League will clash in the semifinals and the winners will meet in the grand final on August 31, which will be played out in Mumbai.