Sun TV, RPSG shares rise after ₹16,600 crore RCB sale shifts spotlight
Mumbai/IBNS: Shares of Sun TV and RPSG Group rose on Wednesday after United Spirits announced the sale of its wholly-owned subsidiary, Royal Challengers Bengaluru (RCB), for approximately ₹16,000 crore, media reports said.
Sun TV shares rose over 4% at the opening bell before trimming gains to trade around 1.5% higher. Meanwhile, RPSG Ventures surged as much as 15% in early trade.
A consortium led by the Aditya Birla Group—along with the Times of India Group, David Blitzer’s Bolt Ventures, and US-based Blackstone—has acquired a 100% stake from United Spirits Ltd., a subsidiary of UK-based Diageo plc.
The RCB announcement follows a similar development, with Rajasthan Royals stating that Kal Somani, Rob Walton (Walmart family), and the Hamp (Ford) family have acquired the Jaipur-based franchise for $1.6 billion.
The RCB deal has shifted investor focus to other IPL franchise owners, including Sun TV and RPSG Group, which own Sunrisers Hyderabad and Lucknow Super Giants, respectively.
Sun TV, apart from its IPL franchise Sunrisers Hyderabad, also owns teams in other leagues, including Sunrisers Eastern Cape in SA20 and Northern Superchargers in The Hundred.
RPSG Ventures, too, has a diversified sports portfolio. Alongside Lucknow Super Giants, it owns Durban's Super Giants, football club Mohun Bagan Super Giant, and Manchester Originals in The Hundred.
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