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Mergers & Acquisitions | 20 March 2012

Mannoj Kumar Jain May Acquire Rajasthan Royals For $200Mn

by Irfan Khan
Mannoj Kumar Jain May Acquire Rajasthan Royals For $200Mn
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Kolkata based Mannoj Kumar Jain may acquire upto 90% stake in Jaipur IPL Cricket Pvt Ltd- the holding company Rajasthan Royals franchisee. for around $200Mn, valuing the IPL-I champions at $222Mn.

The $222Mn valuation seems to be at the lower side when compared to $370Mn paid by the Sahara Group for the Pune Franchise in 2010, however it could still mean a tidy profit for the original promoters, who bought the franchisee rights for a total of $67Mn.

The deal needs approval from BCCI for completion as there are pending legal and regulatory issues against the team owners.

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