March 24: The Royal Challengers Bengaluru, an Indian Premier League franchise, has been acquired for $1.78 billion by a consortium including the Aditya Birla Group, Times of India Group, Bolt Ventures, and Blackstone.
The sale comes after United Spirits, Diageo’s Indian arm, initiated a strategic review of its 100% stake, labeling the team 'non-core' to its alcohol business.
The deal reflects surging interest in IPL franchises, fueled by rising revenues and the league’s record valuation of $18.5 billion, according to Houlihan Lokey.
Aditya Birla Group’s Aryaman Vikram Birla will serve as chairman, while Satyan Gajwani of Times of India Group becomes vice chairman.