Mumbai, May 4 -- According to media reports, a consortium led by steel billionaire Lakshmi Mittal and vaccine entrepreneur Adar Poonawalla has agreed to acquire IPL franchise Rajasthan Royals in a transaction valuing the team at Rs 15,600 crore.

Under the proposed structure, Mittal and his family will hold around 75% stake, while Poonawalla is expected to own about 18%. Existing investors, including Manoj Badale, will retain roughly 7%.

The deal spans beyond the IPL team, covering sister franchises such as Paarl Royals in South Africa's SA20 league and Barbados Royals in the Caribbean Premier League, underscoring the growing global footprint of IPL-linked brands.

The transaction remains subject to regulatory clearances, including appro...