Adar Poonawalla, owner of Serum Institute, said on Thursday that he plans to submit a robust and competitive bid. The bid targets Royal Challengers Bangalore, the Bengaluru-based franchise in the Indian Premier League. Poonawalla said he will make a bid over the next few months and called RCB one of the top teams in the IPL.
The billionaire has been evaluating the deal, and talks have continued. Poonawalla did point out that RCB's valuation estimates are relatively high. “At the right valuation, RCB is a great team,” he said when expressing interest in the RCB franchise in October of last year.
Along with other interested parties, such as Nikhil Kamat of Zerodha, Ranjan Pai of Manipal Group, and JSW and Adani, Poonawalla is one of the front-runners.
A strategic evaluation of United Spirits' stake in Royal Challengers Sports Private Limited (RCSPL), a wholly owned subsidiary of United Spirits, has been initiated by the parent company of RCB, Diageo Plc. The Royal Challengers Bengaluru (RCB) team in the Women's Premier League (WPL) and Men's Indian Premier League (IPL) is managed by RCSPL.
By March 31, 2026, United Spirits anticipates that this evaluation procedure will be finished. According to United Spirits' managing director and CEO, Praveen Someshwar, RCSPL has been a strategic asset but is not essential to the alcoholic beverage industry.
This evaluation is in line with USL's and Diageo's pledge to regularly evaluate their India enterprise portfolio to ensure long-term value for all stakeholders while taking RCSPL's best interests into account.
Last year, former IPL commissioner Lalit Modi tweeted about the possible sale of the RCB franchise. He said RCB stands out as a distinctive investment opportunity likely to attract major global funds or sovereign wealth funds. Modi cited the team’s IPL title win, strong fan base, capable management, and quality squad as key reasons.
“I think this will set a new record valuation, emphasizing the IPL as the most valuable and fastest-growing global sports league. RCB's new fee will set a new standard for every team. I wish the person who succeeds in obtaining it luck. He declared, “I'm confident that Citibank will manage the auction for potential buyers.”
According to Houlihan Lokey's IPL Brand Valuation Study, Royal Challengers Bangalore is valued at US$ 269 million as of 2025. The Mumbai Indians, valued at US $242 million, and the Chennai Super Kings, valued at US $235 million, have been surpassed by RCB to become the league's best team.
While the IPL's whole business is valued at US $18.5 billion, indicating a 12.9% year-over-year growth, the IPL's total brand value was evaluated at US $3.9 billion in 2025, a 13.8% increase from 2024.
After acquiring United Spirits in 2016, Diageo took over RCB, which was formerly owned by Vijay Mallya. Due to its devoted fan base, significant social media following, and affiliation with high-profile players, the squad has long been regarded as one of the league's most alluring teams.
If a transaction is made, industry analysts speculate that it might establish a standard floor price for upcoming IPL franchise agreements. RCB's historic IPL championship victory in 2025, which ended a 17-year title drought and was one of the league's most memorable victories, is highlighted in the brand report.