Mumbai/IBNS, March 25 -- Shares of Sun TV and RPSG Group rose on Wednesday after United Spirits announced the sale of its wholly-owned subsidiary, Royal Challengers Bengaluru (RCB), for approximately Rs.16,000 crore, media reports said.

A consortium led by the Aditya Birla Group-along with the Times of India Group, David Blitzer's Bolt Ventures, and US-based Blackstone-has acquired a 100% stake from United Spirits Ltd., a subsidiary of UK-based Diageo plc.

The RCB announcement follows a similar development, with Rajasthan Royals stating that Kal Somani, Rob Walton (Walmart family), and the Hamp (Ford) family have acquired the Jaipur-based franchise for $1.6 billion.

Sun TV, apart from its IPL franchise Sunrisers Hyderabad, also owns te...