A consortium led by the Aditya Birla Group and Times Internet Limited has acquired the defending Indian Premier League (IPL) and Women’s Premier League (WPL) champions, Royal Challengers Bengaluru (RCB), for INR 16,660 crore, the franchise’s owners disclosed on Tuesday.
The sale was confirmed in mandatory filings by United Spirits Ltd (USL) with the Bombay Stock Exchange and National Stock Exchange of India. Other members of the consortium include Bolt Ventures and Blackstone’s perpetual private equity strategy (BXPE, Blackstone). Together, they have acquired RCB, one of the eight original IPL franchises formed ahead of the inaugural 2008 edition.
USL, a subsidiary of UK-based Diageo plc, approved the sale of its 100% stake in Royal Challengers Sports Private Limited (RCSPL) during a board meeting on Tuesday. The company’s statement read:
“The board of directors of United Spirits Limited at its meeting held today, i.e., March 24, 2026, has approved the sale of 14,690 equity shares of RCSPL, a wholly owned subsidiary of USL, for an aggregate consideration of INR 166.6 billion, subject to adjustments and other conditions set out in the Share Purchase Agreement (SPA) executed on March 24, 2026, by USL, RCSPL, and the consortium parties.”
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The transaction, pending regulatory approvals, including from the Competition Commission of India and Board of Control for Cricket in India (BCCI), will see USL cease to hold any stake in RCSPL, which will no longer be a USL subsidiary.
Under the new ownership, Aryaman Vikram Birla, director at the Aditya Birla Group, will serve as chairman, while Satyan Gajwani of Times Internet Limited will take on the role of vice chairman. The consortium also includes David Blitzer, founder of Bolt Ventures, and Viral Patel, CEO of BXPE.
Diageo had decided to sell RCB in November 2025, attracting interest from several potential buyers, including Adar Poonawalla of Serum Institute of India. Ultimately, the company entered into one-to-one negotiations with the consortium, leading to the current deal.
RCB holds a unique distinction as the only franchise to simultaneously hold both IPL and WPL titles. The men’s team won their maiden IPL title in 2025, while the women’s team secured their second WPL title in February 2026.
The franchise was originally acquired by United Spirits Limited in the inaugural IPL auction, when it was controlled by the erstwhile liquor baron Vijay Mallya. Diageo plc inherited the RCB franchise when it acquired USL.