Mittal Family's Grand Inning: Acquiring Rajasthan Royals

Lakshmi N. Mittal and Adar Poonawalla acquire a majority stake in Rajasthan Royals for USD 1.65 billion. The deal, subject to regulatory approvals, is expected to close by Q3 2026. The Mittals will own 75%, Poonawalla 18%, and existing investors 7%. The acquisition reflects a deep commitment to cricket and Rajasthan.

In a major development within the sports sector, industrial titan Lakshmi N. Mittal, alongside his son Aditya Mittal and Adar Poonawalla, have successfully acquired a majority stake in the IPL franchise Rajasthan Royals. The agreement, valued at USD 1.65 billion, marks a significant investment into Indian cricket.

The transaction awaits regulatory approvals and is expected to be finalized by the third quarter of 2026. The Mittal family will command approximately 75% ownership, with Poonawalla holding an 18% stake, and the remaining shares to be retained by existing investors, including Manoj Badale.

The strategic move underscores the Mittals' strong connection to Rajasthan and commitment to the sport. This acquisition aligns with their vision of fostering new talent within the franchise, continuing its legacy of excellence in cricket.