The Bangalore Royal Challengers play South Africa's Cape Cobras in the opening game of the $US6 million ($NZ9 million) tournament in Bangalore on October 8.
Otago opens its campaign two days later against the Cape Cobras in Hyderabad and then plays the Royal Challengers in Bangalore on October 12.
The Volts will need to win one of their two group C games to progress to the second stage and chief executive Ross Dykes believes Otago shapes as one of the tournament's dark horses.
"You've got to rate your own chances, I guess," Dykes said.
"We are going over there with the determination that we can progress through this tournament and there is self-belief in this team."
Still, the Volts will not want to spend too long looking at the opposition squad lists which read like a who's who of world cricket.
The Royal Challengers' line-up includes destructive England batsman Kevin Pietersen, prolific India run-maker Rahul Dravid, South African all-rounder Jacques Kallis and Proteas fast bowler Dale Steyn.
Not to be outclassed, the Cape Cobras have an impressive batting order which includes strokemaker Herschelle Gibbs, Jean-Paul Duminy and Graeme Smith.
Otago is not short of talent either - punishing wicketkeeper-batsman Brendon McCullum headlines with hard-hitting England bowling all-rounder Dimitri Mascarenhas.
Mascarenhas' county side, Hampshire, was eliminated from the English twenty/20 competition and he has confirmed his availability with Dykes.
"It allows us to have the team that won the competition last season and just adds the experience of someone who has played regularly in India and at that level in front of those sorts of crowds."
Otago all-rounder Ian Butler had a superb summer and Nathan McCullum is destructive with the bat, electric in the field and frugal with the ball.
Former Black Caps test openers Craig Cumming and Aaron Redmond will join forces with exciting young talent Hamish Rutherford at the top of a dangerous Otago batting order.
South African-born left-arm opening bowler Neil Wagner will spearhead the attack with experienced medium pacer Warren McSkimming also expected to shine.
In order to give Otago the best opportunity of success, Dykes has been busy working out a warm-up schedule for the squad which, with the exception of Otago's Black Caps, will assemble on September 1.
"We are still unsure where we will do our off-shore warm-up.
"Obviously, we want to be in a climate as close to the one we will strike in India.
"Warming up somewhere in India is an option and we are investigating the possibility of Northern Australia."
Ideally, Dykes said Otago would arrive in India five days prior to tournament.
