A consortium of Lakshmi Mittal and Adar Poonawalla acquired 93% of the Rajasthan Royals at a $1.65 billion valuation (₹15,660 crore).
The Mittal family secures a 75% stake, while Poonawalla holds 18%, leaving 7% with existing investors like Manoj Badale.
The buyout includes the core IPL franchise, plus the Paarl Royals (SA20) and Barbados Royals (CPL).
The deal materialized rapidly after a previously reported $1.63 billion acquisition by a US investor group unexpectedly collapsed.
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