5.15pm So that's it for the day. See you tomorrow. For the full list of players sold and remaining purse go here. To see how the teams stand at the end of day 1's auctions, check out the Cricinfo page here.

For me there is no doubt which team looks stronger on paper after day 1. It's clearly King XI Punjab, with the likes of Mitchell Johnson, Glenn Maxwell, George Bailey, Cheteshwar Pujara, Virender Sehwag, David Miller, Shaun Marsh, Manan Vohra and Thisara Perea in their ranks. And they are still left with another INR 14 crore for tomorrow. Good going, Preity Zinta and co.

Yuvraj Singh stole the spotlight today, with RCB snapping him up for a massive bid of INR 14 crore, while Dinesh Karthik was landed by DD for INR 12.5 crore. Delhi also retained Kevin Pietersen for INR 9 crore.

KXIP were the star franchise of the day, bagging Ashes hero Mitchell Johnson for INR 6.5 crore and his fellow Australian (and the much-feared) Glenn Maxwell for INR 6 crore. 

Let's see how much funds each franchsie is left with for tomorrow's auction:

Punjab - INR 14,20,00,000

Rajasthan - INR 12,10,00,000

Kolkata - INR 9,00,00,000

Delhi - INR 8,60,00,000

Hyderabad - INR 8,40,00,000

Mumbai - INR 5,15,00,000

Chennai - INR 2,90,00,000

Bangalore - INR 1,80,00,000

Remember, each team need squads of at least 16 players.

It is understood that the IPL will send the unsold players' list to all the franchises. The teams will then pick the unsold players they plan to buy. All selected players will be included in the auction tomorrow. A similar process will be used for the uncapped players as well. 

That's the end of today's auctions.

UNSOLD:Shaminda Eranga, Hamish Bennett, Ian Butler, Rory Kleinveldt, Nuwan Pradeep, Suranga Lakmal, Avishkar Salvi, Isuru Udana 

Most teams still have plenty of spots to fill. Expect a battle for the UNSOLD tomorrow. Final set of the day up next.

UNSOLD: Tino Best, Jade Dernbach, Sheldon Cottrell, Jerome Taylor, Kyle Mills,  Rusty Theron, Nuwan Kulasekara, Simon Jones

FINALLY, WE HAVE SOME ACTION! SOLD: New Zealand's Matt Henry to CSK for INR 30 lakh. Thank you, Chennai!

Up next is the penultimate set of the day. And it's fast bowlers again.

Why were all these players in the auction then?! Waste of time!

Another list goes UNSOLD: Lonwabo Tsotsobe, VRV Singh, Krishmar Santokie, Sudeep Tyagi, Kemar Roach, Marchant de Lange, Mitchell McClenaghan, Ben Laughlin

So the entire list went UNSOLD there. Fast bowlers list up next.

UNSOLD: Mahmudullah, Grant Elliott, Rayan Emrit, Elton Chigumbura, Garey Mathurin, Angelo Perera, Danza Hyatt, Rikki Clarke 

All-rounders up next. Dilruwan Perera - UNSOLD. 

Welcome back. Check out how the teams stand at the moment here 

Remember most teams need around 4-5 more players to fill their quota. But they are not left with much money, after making those big-money signings in the morning.

4.20pm:  They are taking a five-minute break. An opportunity to wake up the team owners, who all seem to have had a heavy lunch.

UNSOLD: Chamara Kapugedera, Adrian Barath, Rob Quiney, Hemang Badani, Jehan Mubarak, justin Ontong, Wasim Jaffer, Dilshan Munaweera, Callum Ferguson

Next up is a list of batsmen. We start with Mohammad Kaif. Hmm, name sounds too familiar but I cannot place him. Must be some Ranji guy. And the Natwest hero goes UNSOLD.

UNSOLD: Shaun Tait, Wayne Parnell, Adam Milne  

What are they waiting for?! It's not like another Corey Anderson or Glenn Maxwell will be up soon.

UNSOLD: Pankaj Singh, Ryan McLaren, Dirk Nannes Abhimanyu Mithun  

My oh my! Again, there were some interesting choices in that list. The IPL auctions continue to amaze us. On a day when Nehra was sold for 200 lakh, you would expect some of these players to be snapped up.

UNSOLD: Colin Munro, Lahiru Thirimanne, Phillip Hughes, Vaughn van Jaarsveld Dean Elgar, Travis Birt, Kieran Powell,  Luke Pomersbach, Neil Broom, Samit Patel, Vernon Philander, Jacob Oram, Christopher Barnwell, Farveez Mahroof,  Dimitri Mascarenhas, David Weise, Jeevan Mendis, Doug Bollinger, Pat Cummins, Jackson Bird.

Welcome back. Eight more sets of players to go. We start with a list of batsmen. Richard Levi is up first - UNSOLD.

3.53pm: The room takes a short break as we head into the last section.

UNSOLD: Devendra Bishoo, Ashley Nurse, Fawad Ahmed, Nikita Miller, Nicky Boje, James Muirhead, Sohag Gazi

A list of spinners has been put tup.

SOLD: Australian Josh Hazlewood to Mumbai for INR 50 lakh

Tim Southee is getting bids from Rajasthan and Chennai. SOLD: Southee to Rajasthan for INR 120 lakh

Sunrisers see off competition from CSK for Jason HolderSOLD: Holder to Sunrisers for INR 75 lakh

SOLD: Ben Hilfenhaus to CSK for INR 100 lakh 

SOLD: Australian Kane Richardson to Rajasthan Royals for INR 100 lakh

UNSOLD: Manpreet Gony, Joginder Sharma, Clint McKay, Fidel Edwards 

We are now entering a list of fast bowlers. Rajasthan have made a bid for Australia's Ben Cutting and are looking around the room to see if they have any rivals. Mumbai says we are up for it. However, Rajasthan seem determined and Mumbai pulls out.

SOLD: Cutting to Rajasthan Royals for INR 80 lakh

UNSOLD: Sachithra Senanayake, Andrew McDonald, John Hastings, Roelof van der Merwe, Jesse Ryder

New Zealand's Jimmy Neesham has triggered a small bidding war between Delhi and Chennai. 

SOLD: Neesham to Delhi for INR 100 lakh

UNSOLD: Johan BothaJames Franklin 

Abhinav Mukund goes UNSOLD. That ends that list of batsmen. All-rounders next.

Next up is Venugopal RaoThankfully someone has ended the afternoon nap and made a bid. It's Bangalore. Sunrisers are up too, they join. Finally!

SOLD: Venu to Sunrisers for INR 55 Lakh.

UNSOLD: Upul Tharanga, Hamish Rutherford. Someone wake that auction room up. Some decent players are going unsold.

UNSOLD: South Africans Herschelle Gibbs, Farhaan Behardien, Henry Davids and Australians Adam Voges, Ben Rohrer, Chris Lynn.

Next up is a list of batsmen. Starts with Neil McKenzie who goes UNSOLD.

UNSOLD: Brad Hogg. The 43-year-old Australian also fails to find any suitors. 20-year-old Akila Dananjaya joins him.

UNSOLD: Nathan Lyon, Suraj Randiv, Ramesh Powar

SOLD: Samuel Badree to CSK for INR 30 lakh

UNSOLD: Suliemann Benn, Rangana Herath, Imran Tahir

3.13pm: We are back with a list of spinners. Not many promising names in this one, to be honest.

2.58pm: We have a 10-minute break. Catch you soon.

Munaf Patel goes UNSOLD. 

Mohit Sharma is up next. Chennai are determined to get their player back. Delhi are their only opponents.

SOLD: Mohit to CSK for INR 200 lakh 

Jaidev Unadkat is wanted by Delhi and Rajasthan. Punjab makes a late entry.

SOLD: Unadkat to Delhi for INR 280 lakh 

Parwinder Awana is getting bids from Punjab and Hyderabad. Now Chennai joins the race.

SOLD: Awana to KXIP for INR 65 lakh

Hyderabad and Bangalore want Varun Aaron 

SOLD: Aaron to RCB for INR 200 lakh 

Next man in the list is Ashish Nehra. There is a bid on the table - and believe it or not, it's from Chennai! 

SOLD: Nehra to CSK for INR 200 lakh 

L Balaji is up next. Punjab and Bangalore are hot on his heels.

SOLD: Balaji to KXIP for INR 180 lakh

Nathan Coulter-Nile is in the centre of a bidding war by Delhi and Rajasthan. A little bit of confusion here regarding the bid. But in the end Delhi gets their man.

SOLD: Coulter-Nile to Delhi for INR 425 lakh.

Brett Lee goes UNSOLD! So does RP Singh. 

The next set is fast bowlers. 

Moises Henriques is next. SOLD: Henriques to Sunrisers for INR 100 lakh 

UNSOLD: Dan Christian, Ravi Bopara and Luke Wright 

Abhishek Nayar is up. SOLD: Nayar to Rajasthan for INR 100 lakh 

FINALLY! IT'S Corey Anderson TIME!

Rajasthan, who kept a low profile so far, has jumped in. So that was the plan! - get the big fish. But Mumbai are giving them some tough competition. Delhi also try their luck but pull out. It's between Rajasthan and Mumbai now.

SOLD: Anderson to Mumbai Indians for INR 450 lakh. There he goes!

Next up is Laxmi Ratan Shukla. SOLD: Shukla to Delhi at INR 150 lakh 

Here comes the big one! Glenn Maxwell's name is up. That wakes up the auction room. Bidding war follows. Delhi and Mumbai start it. They are having a go at each other. Daredevils pull out, Punjab enters. Punjab are taking the game to heavyweights Mumbai. And they have done it!

SOLD: Maxwell sold to KXIP for INR 600 lakh. Wow! Watch out for Punjab this year, ladies and gentlemen. They are building a really strong squad.

We move to all-rounders. They start it with Andre Russell who goes UNSOLD.

Zimbabwe keeper Brendan Taylor is next. SOLD: Taylor to Sunriser for INR 30 lakh 

UNSOLD: S Badrinath, Marlon Samuels, Ian Bell, Tamim Iqbal, Martin Guptill, Lendl Simmons, Tim Paine, Kaushal Silva,  Andre Fletcher, Dane VilasDenesh Ramdin, Prasanna Jayawardene, Johnson Charles and Luke Ronchi

Wow! There are some big players in that list. Tomorrow's auction should be interesting.

Delhi and Kolkata are in the race for Saurabh Tiwary 

SOLD: Tiwary to Delhi for INR 70 lakh 

No. 2 T20 batsman Alex Hales is next. And the Englishman is UNSOLD as well.

Next up is Darren Bravo - UNSOLD again.

White's fellow Australian Nic Maddinson is up next.

SOLD: Maddinson to RCB for base price of INR 50 lakh. 

2.00pm: Welcome back. We start the afternoon session with specialist batsmen.

First up is Cameron White - UNSOLD 

12.34pm: That brings the morning session to an end. We have a 90-minute break lined up. The auction will resume around 2pm. Meanwhile, click here to check out the summary of the auction so far. For a full list of all the deals and transactions of the morning session, click here.

Muttiah Muralitharan's name comes up. Seems Banagalore is the only team in for him.

SOLD: Murali to RCB for INR 100 lakh

IPL specialist Rahul Sharma is up next. Delhi and Bangalore are chasing him.

SOLD: Rahul to Daredevils for INR 190 lakh

37-year-old Murali Karthik is UNSOLD, so is New Zealand's Nathan McCullum. 

Ajantha Mendis goes UNSOLD. The trend to snub the Lankans continues. 

Pragyan Ojha, it is. Delhi and Mumbai are bidding. 

SOLD: Ojha to Mumbai Indians for INR 325 lakh. 

12.19pm: We have Piysuh Chawla to start a set of spinners. This one is taking long. CSK quit but Delhi and KKR are at still it.

SOLD: Chawla to KKR for IND 425 lakh. Punjab decide not to use their card.

Morne Morkel is next. Mumbai have pulled out but Rajasthan and KKR go on. 

SOLD: Morkel to KKR for INR 280 lakh. That's end of that pacers set.

Vinay Kumar is attracting bids from KKR and DD.

SOLD: Vinay to KKR for INR 280 lakh 

Up next is Praveen Kumar. Remember him? Nobody has jumped in so far. Seems they are leaving it late.

Praveen is UNSOLD! 

Umesh Yadav is the next in line. KKR, CSK and Sunrisers are the interested parties.

SOLD: Umesh to KKR for INR 260 lakh 

SOLD: Ravi Rampaul to RCB for INR 90 lakh. 

Mohammed Shami is next. It's between DD and KKR.  

SOLD: Shami to Daredevils for INR 425 lakh 

Next man is Bhuvneshwar Kumar. KKR, DD and Sunrisers are bidding for him.

SOLD: Bhuvi to Sunrisers for INR 425 lakh

India's most-hated man Ishant Sharma is up for grabs. Delhi drop out but Bangalore and Hyderabad want him.

SOLD: Sharma to Sunrisers for INR 260 lakh.  

Ashok Dinda is next. Chennai and Bangalore in for him.

SOLD: Dinda to RCB for INR 150 lakh

SOLD: Mitchell Starc to RCB for INR 500 lakh.

Pacers next.

11.50am: Here is the UNSOLD players list: Mahela Jayawardene, Ross Taylor, Naman Ojha, Matthew Wade, Craig Keiswetter, Kusal Perera, David Hussey, Angelo Mathews, Tillakaratne Dilshan, Azhar Mahmood. They will go back in the auction tomorrow. Not a bad list, that one. Though most of the Sri Lankans will most prolly remain unsold even tomorrow, since they will miss a chunk of the tournament this year.

Shakib Al Hasan is the last name in the first list of all-rounders. KKR And Delhi are in for him.

SOLD: Al Hasan to KKR for INR 280 lakh.

Azhar Mahmood goes UNSOLD. 

Tillakaratne Dilshan is UNSOLD too. That was a surprise since Dilshan had retired from Test cricket and would have been available for most part of the IPL.

Irfan Pathan is wanted by Rajasthan and Hyderabad.

SOLD: I Pathan to Sunrisers for INR 240 lakh.

So is Angelo Mathews. The Sri Lankan captain joins team-mates Jayawardene and Kusal Perera in the UNSOLD list. 

David Hussey is UNSOLD. 

Albie Morkel is next. Delhi and Bangalore in for him. Chennai are silent.

SOLD: Morkel to RCB for INR 240 lakh 

SOLD: Thisara Perera to KXIP have for INR 160 lakh.

Yusuf Pathan is next. I'm sure I've heard the name somewhere. Sunrisers and Mumbai in.

SOLD: Y Pathan to Sunrisers for INR 325 lakh. But wait! KKR jump in with their right to match card. Kolkata will keep him for 325 lakh. Remember he had fetched more than 2million at the last auction. What a fall!

First set of keepers over. All-rounders next starting with Steven SmithKKR and Rajasthan in for the Australian.

SOLD: Smith to Royals for INR 400 lakh  

England's Craig Kieswetter and Sri Lanka's Kusal Perera also go UNSOLD. Not very surprsing since Sri Lanka will be touring England during IPL 7.

Matthew Wade is next. Wade is UNSOLD. Hmm...not many fancy Big Bash performances, it seems.

We have Parthiv Patel now. Slow bidding, as expected. Bangalore and Mumbai are the only ones interested.

SOLD: Parthiv to RCB at INR 140 lakh

Wriddhiman Saha is next. Hyderabad and Rajasthan are in for him. Punjab enter late.

SOLD: Saha to KXIP for INR 220 lakh

Quinton de Kock is next. I'm sure we all know him. Yeah, the kid who ripped India apart in South Africa. Bids rise between Delhi and Bangalore.

SOLD: de Kock sold to Delhi for INR 350 lakh. Massive capture, this one. 

10.20am. We are back with the set of wicketkeepers. First up is Naman Ojha. Ojha is UNSOLD.

So Jayawardene and Taylor remain unsold.

11.10am. We will have a 10-minute break.

Lot of interest in Dwayne Smith. Bangalore, Mumbai, Delhi, Chennai are all making bids for the West Indian.

SOLD: Smith to CSK for INR 450 lakh. Just for a second it appeared Mumbai are gonna use their card but it seems they are saving it for Glen Maxwell.

Next up is Manoj Tiwary. Seems only Delhi are interested in him. Sunrisers show up late.

SOLD: Tiwary to Delhi for INR 280 lakh. KKR are not going to use their right to match card for him.

Shaun Marsh's name is up. Bids are slow. Rajasthan make a half-hearted attempt. Punjab enter.

SOLD: Marsh to KXIP for INR 220 lakh

T20 veteran Brad Hodge is next. His former team Rajasthan and Bangalore are in for him.

SOLD: Hodge to Rajasthan Royals for INR 240 lakh. That could be a steal. He was in brilliant form last season, and also in the last Big Bash.

Last auction's 2-million dollar man Robin Uthappa is drawing interest from KKR and DD.

SOLD: Uthappa to KKR for INR 500 lakh 

JP Duminy. Bangalore and Delhi are bidding for the South African.

SOLD: Duminy to Daredevils for INR 220 lakh 

Cheteshwar Pujara is up for grabs. Delhi, Punjab and Bangalore fancy him. Understandable.

SOLD: Pujara to KXIP for INR 190 lakh 

Aaron Finch is next. DD and Sunrisers are at it. 

SOLD:Finch to Sunrisers for INR 400 lakh. 

10.49am: Ross Taylor is up. Taylor goes UNSOLD!

Zaheer Khan is the last player from this set. Zak's fromer teams Mumbai and Bangalore are in for him. Sunrisers join.

SOLD: Zaheer to Mumbai for INR 260 lakh.  

Next is Amit Mishra. Bangalore, Punjab, Rajasthan and Delhi all in for the spinner.

SOLD: Mishra to Delhi for INR 475 lakh but yes there is a twist. Sunrisers use their card and Mishra returns to Hyderabad

Delhi and Mumbai are in for Michael Hussey.  

SOLD: Hussey to Mumbai Indians for INR 500 lakh. 

Brendon McCullum is next. The two giants - Mumbai and CSK - are going for him.  

SOLD: McCullumto CSK for INR 325 lakh. KKR will not use their right to match card.

Dinesh Karthik's number is up. KKR, Sunrisers and Delhi are in for him. This is tight. Karthik is gonna fetch some big money. 

SOLD: Karthik to Delhi Daredevils at INR 1250 lakh. Will Mumbai use the card? No, they won't.

Next up is Faf du Plessis. Massive bidding war for Faf. Mumbai and Delhi at it.

SOLD: du Plessis to Delhi Daredevils for INR 475 lakh. Hold on. Enter CSK. Yes, they use the right to match card to take Faf back. du Plessis returns to Chennai for 475 lakh. Delhi are not pleased.

Darren Sammy is up next. Rajasthan and Delhi are chasing him RCB makes a late entrance

SOLD: Sammy to DD for INR 350 lakh. And as expected, Sunrisers play their right to match card and get the West Indies all-rounder back. Sammy joins Hyderabad for 350 lakh

10.25am: We are back and George Bailey will be the first to go.

SOLD: Bailey to KXIP for INR 325 lakh. Delhi made a late entry but Punjab were determined. And they got their man.

10.15am: The next group marquee players up for sale include George Bailey, Faf du Plessis, Michael Hussey, Dinesh Karthik, Brendon McCullum, Zaheer Khan, Amit Mishra and Darren Sammy. Still cant believe Mahela went unsold and Mumbai did not use their card to get Mitch back. 

Johnson was the last player in the first pool of marquee players. We are having a small break here. 

Warner's national team-mate Mitchell Johnson is next. Delhi, Chennai and Punjab are in for the star man of the last Ashes. Not surprising, that.
SOLD: Johnson to KXIP for INR 650 lakh. I'm sure Mumbai will seriously consider using their right to match card. No they don't! That's a shocker! Mitch joins Punjab!

Sehwag's DD opening partner David Warner is in. Sunrisers and Mumbai are in for the Australian. Both seem determined. 

SOLD: Warner to Sunrisers for INR 550 lakh. And just like they did with Sehwag, Delhi decide not to use theie right to match card for Warner. Warner will join Shikhar Dhawan at Hyderabad. well...

Virender Sehwag is up next. Oh boy! surprisingly Punjab and Mumbai are the only ones in for him.

SOLD: Sehwag KXIP for INR 320 lakh.

Next is Jacques Kallis. CSK open the bidding as usual. Delhi enter now. KKR joins the race.

SOLD: Kallis to CSK for INR 550 lakh. But KKR are considering using their right to match card. They will do so. Kallis bought back by KKR for 550 lakh.  

Yuvraj Singh is up next, remember him?. It's a massive bidding war for Yuvraj! Punjab has pulled out but KKR and RCB are going hard against each other. Who would have thought this? The out-of-favour southpaw is back in demand!

SOLD: Yuvraj Singh to RCB for INR 1400 lakh. So it's Gayle, Kohli, AB and Yuvi for Bangalore. What an explosive batting line-up that is! 

It's the big one! Kevin Pietersen, is next. Chennai open the bid. Sunrisers are in now.

SOLD: Pietersen to Sunrisers Hyderabad for INR 900 lakh. Wait a minute. It seems Delhi are gonna use their right to match card to buy back Kevin! Yes, Delhi take KP back from Sunrisers for 900 lakh.

Mahela Jayawardene is up next. He goes UNSOLD! That was a surprise!

9.37am: Here we go. First up is Murali Vijay. 

SOLD: Vijay to Delhi Daredevils for INR 500 lakh. Sunrisers, CSK and Mumbai all made a go for him but it's Delhi who got the Indian opener. 

Good morning, everyone. Welcome to IB Times IN's live coverage of the player auctions for the seventh edition of the Indian Premier League(IPL) from Bangalore.

9:15am: Eight franchises will be up against each other to snap up the most in-demand cricketers across the globe, as they prepare for the much-awaited season 7 IPL. 511 players (424 Indians and 87 overseas players) are in for the bidding process that will form the eight IPL teams that will partcipate in the 2014 edition.

The auction will be conducted by Richard Madley, who has been involved in this process since the IPL's inaugural season in 2008. 

IPL auction
IPL auction (iplt20.com)

To check out the complete, set-wise list of players who will figure in the auction this year, click here

Meanwhile, here is the list of retained players by each team:

Chennai Super Kings: Ravichandran Ashwin, Dwayne Bravo, MS Dhoni, Ravindra Jadeja, Suresh Raina

Kings XI Punjab: David Miller, Manan Vohra

Kolkata Knight Riders: Gautam Gambhir, Sunil Narine

Mumbai Indians: Lasith Malinga, Kieron Pollard, Ambati Rayudu, Rohit Sharma, Harbhajan Singh

Rajasthan Royals: Stuart BinnyIndia, James Faulkner, Ajinkya Rahane, Sanju Samson Shane Watson

Royal Challengers: Bangalore AB De Villiers, Chris Gayle, Virat Kohli

Sunrisers Hyderabad: Shikhar Dhawan, Dale Steyn