New Delhi: Adar Poonawalla, owner of the vaccine maker Serum Institute, officially confirmed on Thursday that he will be putting in a “strong and competitive bid” for Indian Premier League team Royal Challengers Bengaluru over the next few months.
“Over the next few months, will be putting in a STRONG and COMPETITIVE bid for @RCBTweets, one of the best teams in the IPL,” Poonawalla said on his official X account.
This official confirmation came after speculation began in September that he is one of the frontrunners to acquire the franchise after exiled former IPL chairman Lalit Modi tweeted about the possibility of Diageo India – RCB’s current owners – deciding to put the franchise up for sale.
Among his other ventures, Poonawalla also owns a 50% stake in Dharma Productions worth ₹1000 crore. He was also appointed the chairman of Poonawalla Fincorp after acquiring a 66% stake in the financial services company.
This development comes at an interesting time. Royal Challengers Bangalore’s valuation is at its highest after their maiden IPL title in 2025, their franchise in the Women’s Premier League had already won in 2024 and their massive fan base has only been growing. However, the celebrations of the IPL champions last year were marred by the tragic death of 11 fans in the stampede on June 4 following an uncontrollable crowd outside their home ground, M Chinnaswamy Stadium.
The tragedy could have played a part in Diageo India, the owners of the Bengaluru franchise, deciding to put it up for sale.
In November 2025, Diageo took the first step towards divesting its stake in the franchise. In a filing with India’s market regulator, the Securities and Exchange Board of India (SEBI), the company said it was conducting a “strategic review” of its investment in RCB through Royal Challengers Sports Private Limited (RCSPL) — the parent company that owns the men’s and women’s teams.
The Royal Challengers franchise was founded in 2008 by United Spirits Ltd, then chaired by Vijay Mallya, as one of the original IPL teams. Diageo took control of RCB indirectly by acquiring a majority stake in United Spirits, following Mallya’s departure amid financial difficulties.
Big money
The deal is expected to bring in the big money especially given the prices at which Lucknow Super Giants (LSG) and Gujarat Titans were bought in 2021. LSG was bought by the RPSG Group for a record ₹7,090 crore (approximately $940 million) in late 2021.
The Gujarat Titans were originally bought by CVC Capital Partners for ₹5,625 crore in 2021, but in early 2025, the Torrent Group acquired a 67% majority stake from CVC for an estimated ₹5,025 crore, with CVC retaining a 33% share.
According to Houlihan Lokey’s 2025 IPL brand valuation study, RCB is the most valued IPL franchise at $269 million (approx. ₹2390 crore) and some reports have stated that India’s vaccine czar could even be looking at going as high as $1-1.2 billion.
It remains to be seen which other potential bidders enter the race alongside Poonawalla and the price at which RCB eventually evaluate themselves.
