Key Takeaways
May 3, 2026 · 2 min read · By Rishabh Bhardwaj
·
AI-assisted, human-reviewed · Our editorial standards
The Rajasthan Royals IPL franchise has changed hands in one of Indian cricket's biggest ownership deals. The Mittal family and Adar Poonawalla have jointly acquired the team for Rs 15,660 crore, with the Mittals taking a dominant 75% stake and Poonawalla picking up around 18%.
The Mittal family, known for their steel and telecom interests, will be the controlling partner in the new ownership structure. Adar Poonawalla, CEO of the Serum Institute of India and one of India's wealthiest individuals, comes in as a significant minority investor at roughly 18%. The remaining stake is not detailed in the current disclosure.
The Rs 15,660 crore price tag sets a new reference point for IPL franchise valuations. It reflects how sharply the league's commercial value has risen, driven by broadcast deals, title sponsorships, and growing global interest in T20 cricket. Franchise sales are rare, which makes each transaction a pricing benchmark for the sport as a business.
Rajasthan Royals were one of the original eight IPL franchises, founded in 2008. The team won the inaugural IPL title that year. Despite a two-year suspension between 2015 and 2017 linked to a spot-fixing controversy, the franchise has maintained a strong fan base and brand identity, particularly around its scouting and player development reputation.
For the Mittal family, this acquisition adds a high-profile sports asset to their portfolio at a time when IPL team ownership is increasingly seen as a blend of brand building and long-term financial investment. For Poonawalla, it continues a pattern of high-visibility business and cultural investments.
The valuation implies that each percentage point of franchise ownership is now worth roughly Rs 208 crore at the deal price, underscoring how far IPL asset prices have traveled since the league's early years. Investors and sports business watchers will treat this number as a floor for future franchise transactions.
What to watch: whether the new owners signal any changes to the team's management structure, coaching setup, or player retention strategy ahead of the next IPL auction cycle.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.