New Delhi, March 27 -- The shares of Chennai Super Kings (CSK) are charging ahead in the unlisted market, rising as much as 60% in just three months, underscoring how capital markets are beginning to reprice the business potential of Indian Premier League (IPL) franchises.

According to data from InCred Money, following the deal announcement for IPL franchisees Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR), the already high-flying CSK stocks got a further leg up.

CSK's unlisted shares rose to Rs.350 after the news from around Rs.300 earlier. A month ago, the stock was at Rs.250 and three months back, around Rs.215.

CSK is one of the most successful and commercially valuable franchises in IPL. The recent franchise valuation...