Latest news with #MitalSanghvi
India.com
2 days ago
- Business
- India.com
Plan to sell IPL 2025 champions RCB only..., Kohli's team reveal truth to BSE, they said...
RCB won the IPL 2025 title after wait of 18 years. They beat PBKS by six runs in IPL 2025 final last week. Media reports stated that RCB owners Diageo India are planning to sell a stake in the team after their IPL 2025 win. RCB could become 2nd IPL team after Gujarat Titans to sell a stake, according to a report in Bloomberg. RCB owners Diageo India are looking at valuation of $2 billion, according to the report in Bloomberg. RCB owners Diageo have confirmed their stand in statement to the Bombay Stock Exchange. "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion," Mital Sanghvi, the company secretary, informed the regulating body of the Indian Stock Market. "This is for your information and records." Diageo-owned United Spirits stock prices increased after new of RCB stake sale. Diageo India had to respond to a mail from BSE. Former IPL chairman Lalit Modi is not surprised at RCB valuation of $2 billion, according to report in Cricbuzz website. "I will not be surprised if it is sold for a higher price," Lalit Modi said. RCB official have no been available since deadly Bengaluru stampede last week which led to death of 11 people amid Virat Kohli's team felicitation.
India.com
2 days ago
- Business
- India.com
Not RCB, THIS IPL champion team sold stake for Rs 50000000000, new owners are…
RCB owners Diageo India have denied speculation that they are planning to sell stake in team in a letter to Bombay Stock Exchange. "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion," Mital Sanghvi, the company secretary, informed the regulating body of the Indian Stock Market. "This is for your information and records." RCB became IPL champions after a wait of 18 years. Virat Kohli's RCB defeated PBKS by 6 runs in the IPL 2025 final last week. Gujarat Titans owners CVC sold 67 per cent stake in IPL team to Torrent Group ahead of IPL 2025 season this year. Image credit: X (Formerly Twitter) Torrent Group paid over Rs 5000 crorefor 67 per cent share in Gujarat Titans. This strategic partnership between one of India's leading Business Groups and a globally renowned Private Equity firm, is the first of its kind in India's sports sector and will unlock exciting opportunities for growth and collaboration. Gujarat Titans had won the IPL title on debut in 2021 under the captaincy of Hardik Pandya. GT had defeated Rajasthan Royals in the final. Shubman Gill's GT had reached IPL 2025 Playoffs. Gujarat Titans lost to Mumbai Indians in the IPL 2025 Eliminator match. RCB has been reportedly valued at over $2 billion after IPL 2025 win, according to a report in Bloomberg. The report of sale is of course speculative as mentioned by the Diageo official in his reply to the BSE. "No decision is final and they may decide against selling the team, the people said, asking not to be named as the details are private," the Bloomberg report says.
Time of India
2 days ago
- Business
- Time of India
RCB to be sold after historic IPL 2025 win? Owner Diageo breaks silence
Image credit: BCCI/IPL Diageo India, the Indian branch of UK-based Diageo Plc and owner of the Royal Challengers Bengaluru (RCB) IPL franchise, has firmly rejected rumors of selling the team. In a letter addressed to the Bombay Stock Exchange (BSE) and its Surveillance Department on Tuesday, June 10, a Diageo India representative stated that the media reports suggesting a potential sale are purely speculative. "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion," Mital Sanghvi, the company secretary, informed the regulating body of the Indian Stock Market. "This is for your information and records." Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW! According to a Cricbuzz report, Diageo's statement was in response to a query from the Bombay Stock Exchange (BSE), where the company is publicly listed. Since speculation about a possible sale of the RCB franchise began circulating, shares of United Spirits — the Diageo-owned company that holds RCB — have seen a notable uptick. On Tuesday, Bloomberg reported that Diageo is considering selling the RCB franchise. The report surfaced shortly after RCB's maiden IPL title win on June 3 — a milestone achieved after 17 years — followed tragically by an incident in Bengaluru on June 4, where celebrations turned fatal, leaving 11 dead and many injured. Virat Kohli's love for 'dhaba' food, priority for family & more | RCB bus driver shares stories Though Diageo officially dismissed the sale reports as "speculative," the ambiguity of their statement has sparked deeper speculation. A seasoned voice in India's sports business ecosystem suggested that 'being a public company, there will be a lot of pressure on reputational damage,' hinting that Diageo could be weighing its options more seriously than publicly admitted. There are also murmurs about Diageo valuing the RCB franchise at around USD 2 billion. While some industry insiders view that figure as inflated — especially when compared to Torrent's acquisition of Gujarat Titans at approximately INR 7500 crore (around USD 1 billion) — others disagree. Lalit Modi , the architect of the IPL, told Cricbuzz that a USD 2 billion valuation for RCB is quite realistic. 'A particularly special feeling': Andy Flower hails Virat Kohli, RCB after historic title win "I will not be surprised if it is sold for a higher price," he remarked, adding that comparing the RCB valuation to that of the newer Gujarat franchise isn't an apples-to-apples comparison. "I will not be surprised if it is sold for a higher price," he said , stating that the valuation of GT cannot be compared here since it was a one-year-old deal. The sale report remains speculative, as clarified by the Diageo official in the response to the BSE. "No decision is final and they may decide against selling the team, the people said, asking not to be named as the details are private," the Bloomberg report says.
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First Post
2 days ago
- Business
- First Post
RCB owner issues statement after sale rumours emerge following maiden IPL title win
After RCB's maiden IPL title win in 2025, media reports speculated a possible sale of the franchise. The reports emerged following the deadly stampede in Bengaluru that killed 11 fans during victory celebrations. Current owner Diageo India has now issued a statement, clarifying their stance on the matter. read more After Royal Challengers Bengaluru (RCB) lifted their first-ever IPL title this year, media reports emerged stating that the team might be up for sale. RCB defeated Punjab Kings (PBKS) by 6 runs in the IPL 2025 final to end their 18-year-long drought. Immediately after this, news started doing the rounds of a possible sale of the franchise. RCB's historic IPL 2025 win sparks sale speculation However, the current owner of RCB, Diageo India, has denied all rumours. The company has clearly said that it is not looking to sell the RCB franchise. According to Cricbuzz, Diageo made this statement in a letter to the Bombay Stock Exchange (BSE) on Tuesday, 10 June. This clarification came after the BSE reached out to Diageo regarding the rumours. 'The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion. This is for your information and records,' Mital Sanghvi, the company secretary, was quoted as saying to BSE. STORY CONTINUES BELOW THIS AD Tragic incident in Bengaluru adds to the speculation The speculation started when Bloomberg published a report earlier this morning suggesting that Diageo was looking for options to sell the RCB team. The report came just days after RCB's IPL 2025 victory on 3 June and a tragic stampede incident in Bengaluru on 4 June, where 11 people lost their lives during the celebrations. There were reports that since the news of the potential sale emerged, Diageo's stocks have risen in value. Meanwhile, there are speculations that RCB's owner is exploring options to sell the franchise because of the recent incident that may have caused some reputational damage to the company. Some reports also claimed that Diageo was looking at a valuation of $2 billion for the IPL team. 'I will not be surprised if it is sold for a higher price,' IPL founder Lalit Modi was quoted as saying by Cricbuzz. As per Modi, the valuation being quoted in the media is not far off. RCB's IPL victory may have increased the brand value of the franchise. The Gujarat Titans team was recently sold for nearly $1 billion to Torrent Group.
Hindustan Times
2 days ago
- Business
- Hindustan Times
RCB's parent company reacts to 'plans to sell' franchise after winning IPL
Rumours of the Royal Challengers Bengaluru (RCB) being on sale surfaced just days after the franchise claimed its maiden Indian Premier League (IPL) title after beating Punjab Kings in Ahmedabad. However, the owners, Diageo India, an Indian branch of UK-based Diageo Plc, categorically shut the rumours as they told the Bombay Stock Exchange (BSE) and BSE Surveillance Department on Tuesday that the reports were merely speculative in nature. Earlier, a Bloomberg report indicated that the British distiller has been in discussion with potential advisers on selling part or all of the club. Diageo owns the team through its Indian unit, United Spirits Ltd., and may seek a valuation of as much as $2 billion. However, the rumours were ended in a mail to the BSE, with Mital Sanghvi, the company secretary, informing the regulating body of the Indian Stock Market, "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion. This is for your information and records." Diageo is registered with the BSE and hence a mail was sent to the company as the rumours around the RCB had lifted the share price. Shares of United Spirits gained as much as 3.3%, to hit a five-month high, in Mumbai trading on Tuesday morning following the report on potential deal. The rumours emerged at a time when India's health ministry is keen on banning the promotion of tobacco and alcohol brands in the IPL. While advertisement of such products are strictly prohibited in India, Diageo have promoted other products such as soda using top cricketers. The discussions also emerged at a time when RCB found themselves in the midst of a controversy after the unfortunate incident outside the Chinnaswamy on June 4. The franchise had arranged a celebration in the city a day after the IPL win, which saw around 2.5 lakh fans gathering in and around the home stadium in Bengaluru. But all turned into a chaos as a stampede saw 11 people losing their lives, while 56 were left injured. The incident has drawn criticism from local authorities and increased scrutiny over event safety, adding pressure on the franchise's ownership as it faces reputational risks tied to the tragedy.
