New Delhi, May 12 -- Royal Challengers Bengaluru have won just one IPL title in eighteen years. They do, however, boast of Virat Kohli, over 23 million Instagram followers and, lately, a price tag of $1.78 billion. Rajasthan Royals, equally decorated with a single trophy and without a Kohli, are valued at $1.65 billion.

In the market for Indian cricket franchises, even occasional success is worth a great deal.

In the last one month, the two franchises have been sold for over $3.4 billion. So what exactly have the Aditya Birla Group, Times of India Group, Bolt Ventures and Blackstone, Lakshmi N Mittal, and Adar Poonawalla bought?

For an easy answer, look no further than the other franchise owners. Reliance Industries Ltd. controls Mumba...