Adar Poonawalla, CEO of Serum Institute of India, announced on Wednesday that he will place a "strong and competitive" bid over the next few months to acquire the IPL franchise Royal Challengers Bengaluru (RCB). Current owners United Spirits, a Diageo-controlled company, have reportedly set a price tag of $2 billion for the franchise.
"Over the next few months, I will be putting in a STRONG and COMPETITIVE bid for @RCBTweets, one of the best teams in the IPL," Poonawalla posted on X.
Back in October last year, Poonawalla had hinted at his interest, posting, "At the right valuation, @RCBTweets is a great team."
While his message was brief and non-committal, it came at an opportune moment and was amplified by industry voices. Former IPL commissioner Lalit Modi publicly described RCB as a "prime investment" and suggested that global or sovereign funds could line up for the franchise, further fuelling the speculation.
Should the deal go through, it would mark a valuation more than double that of the most recently sold IPL franchise, Lucknow Super Giants, which was acquired by the RPSG Group for ₹7,090 crore.
At the right valuation, @RCBTweets is a great team…
— Adar Poonawalla (@adarpoonawalla) October 1, 2025
RCB was originally purchased at the inaugural IPL auction in 2008 by Vijay Mallya's UB Group for approximately $111.6 million. Over the following decade, Diageo, the London-listed spirits giant, gradually built a controlling stake in United Spirits, becoming its majority shareholder by 2014.
As a result, RCB came under Diageo's effective control, and any sale would be conducted through United Spirits' and Diageo's corporate channels. RCB are also the defending IPL champions, having lifted their maiden title last year after defeating Punjab Kings (PBKS) in the final.
