RCB Ownership Battle: Ranjan Pai Consortium, EQT–Premji Invest Submit Bids as Adar Poonawalla Withdraws
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RCB Ownership Battle Heats Up: Pai, EQT-Premji Invest Bid; Adar Poonawalla Out
M
Moneycontrol•16-03-2026, 23:59
RCB Ownership Battle Heats Up: Pai, EQT-Premji Invest Bid; Adar Poonawalla Out
•Two consortiums, led by Dr Ranjan Pai (Manipal Hospitals, KKR, Temasek) and EQT-Premji Invest, submitted binding bids for Royal Challengers Sports Private Limited (RCSPL).
•Serum Institute's Adar Poonawalla, who had previously submitted a non-binding bid, has exited the race and did not submit a binding bid.
•RCSPL is the owner of the popular Royal Challengers Bengaluru (RCB) franchise, participating in the men's IPL and women's WPL cricket tournaments.
•The bidding process follows a strategic review of RCSPL, a non-core asset of Diageo’s United Spirits, expected to conclude by March 31, 2026.
•RCB maintains its top position in brand value at $269 million, as the overall IPL business value rises to $18.5 billion.
