Renowned industrialist Lakshmi N. Mittal and his son Aditya Mittal, along with Adar Poonawalla, have acquired a majority stake in Rajasthan Royals with a bid of $1.65 billion (approximately ₹15,600 crore) after the Kal Somani–Rob Walton–Sheila Ford Hamp consortium pulled out of the race.

The transaction consideration ($1.65 billion) represents the enterprise value of Rajasthan Royals’ men’s franchise, Paarl Royals and Barbados Royals.