Core Insights - The Indian Premier League franchise Royal Challengers Bengaluru (RCB) has been sold for Rs 16,600 crore (approximately $1.78 billion) to a consortium that includes the Aditya Birla Group, The Times of India Group, Bolt Ventures, and a Blackstone fund [5][4] - This transaction represents a nearly 16-fold return for United Spirits Limited, a subsidiary of Diageo plc, compared to its original bid in 2008 [5][4] - The deal sets a new benchmark for IPL franchise valuations, reflecting the increasing attractiveness of T20 cricket assets [5][4] Financial Performance - RCB reported revenue of Rs 504 crore and EBITDA of Rs 186 crore for FY25, with the first half of FY26 showing revenue of Rs 478 crore and EBITDA of Rs 225 crore, surpassing the full-year FY25 EBITDA [5][4] - The valuation of RCB accounts for roughly 17% of United Spirits' market capitalization, which was around Rs 1 lakh crore (approximately Rs 96,563 crore) at the close of trading on Tuesday [5][4] Bidding Process - The bidding process attracted significant interest from multiple groups, with the winning consortium outbidding a rival offer from Adar Poonawala of Serum Institute and Aditya Mittal of ArcelorMittal [4] - Other participants included Premji Invest alongside EQT, and a separate group comprising Ranjan Pai of Manipal Group, KKR, and Temasek, who were involved in the early stages of bidding [4]