Metal billionaire Lakshmi Mittal and vaccine tycoon Adar Poonawalla are set to accumulate the Indian Premier League’s Rajasthan Royals in a groundbreaking deal valued at $1.65 billion.
The consortium’s assertion signifies Mittal will maintain roughly 75% of the franchise, whereas Poonawalla is slated to personal about 18%. Present buyers, together with UK-based Manoj Badale, will preserve a 7% stake.
This acquisition extends to the group’s sister franchises, Paarl Royals and Barbados Royals. Completion of the sale is contingent on regulatory clearances and is anticipated by the third quarter of 2026.
(With inputs from businesses.)