In a significant growth inside the sports activities sector, industrial titan Lakshmi N. Mittal, alongside his son Aditya Mittal and Adar Poonawalla, have efficiently acquired a majority stake within the IPL franchise Rajasthan Royals. The settlement, valued at USD 1.65 billion, marks a major funding into Indian cricket.
The transaction awaits regulatory approvals and is predicted to be finalized by the third quarter of 2026. The Mittal household will command roughly 75% possession, with Poonawalla holding an 18% stake, and the remaining shares to be retained by current traders, together with Manoj Badale.
The strategic transfer underscores the Mittals’ sturdy connection to Rajasthan and dedication to the game. This acquisition aligns with their imaginative and prescient of fostering new expertise inside the franchise, persevering with its legacy of excellence in cricket.
(With inputs from companies.)