Mumbai: Renowned industrialist Lakshmi N. Mittal and his son Aditya Mittal, along with Serum Institute CEO Adar Poonawalla, have acquired a majority stake in Rajasthan Royals with a bid of $1.65 billion, approximately ₹15,600 crore, sources said.
The acquisition came after the Kal Somani–Rob Walton–Sheila Ford Hamp consortium pulled out of the race.
The $1.65 billion transaction consideration represents the enterprise value of the franchise group, which includes Rajasthan Royals’ men’s IPL team, SA20 side Paarl Royals, and CPL team Barbados Royals.
The deal marks one of the largest franchise investments in global T20 cricket and brings together major names from steel, pharmaceuticals, and global business into the Rajasthan Royals ownership group. Further details on the shareholding structure and governance changes are awaited.
