10 bidders shortlisted after initial offers

RCB Sale Moves to Next Round as 9-10 Bidders Shortlisted

The ongoing sale process of Royal Challengers Sports Private Limited (RCSPL), the entity that owns the Royal Challengers Bengaluru (RCB) franchise, has entered its next phase with around nine to ten suitors shortlisted after the submission of non-binding bids, according to a report by Moneycontrol citing multiple industry sources.

Notable Bidders

• Adar Poonawalla: CEO of the Serum Institute of India
• Dr Ranjan Pai: Chairman of the Manipal Group
• EQT: Private equity firm
• Lancer Capital LLC: Backed by Manchester United co-owner Avram Glazer

RCSPL, a subsidiary of Diageo’s Indian arm United Spirits, holds ownership of the RCB teams competing in both the Indian Premier League (IPL) and the Women’s Premier League (WPL).

Sale Process

• Selected bidders were informed over the weekend.
• Due diligence is expected to begin this week through access to a virtual data room followed by management interactions.

The unusually large shortlist at this stage strengthens the scale of interest in what is expected to become a benchmark valuation deal for IPL franchises.

Other Interested Parties

• Premji Invest
• Blackstone
• Capri Global
• A Times Internet-led consortium
• A group involving tech entrepreneur Kal Somani and Washington Freedom owner Sanjay Govil

Sources further indicated that consortium structures and internal rate of return expectations could influence participation when binding bids are submitted, especially for private equity players navigating valuation thresholds.

Reactions

• Diageo: Declined to comment to Moneycontrol.
• EQT: Declined to comment to Moneycontrol.
• The Poonawalla Group: Declined to comment to Moneycontrol.
• Lancer Capital and the Manipal Group: Responses awaited at the time of publication.