Celebrated industrialist Lakshmi N.Mittal and his son Aditya Mittal have bought the majority of the stake in the Rajasthan Royals franchise for USD 1.65 billion (approximately Rs 15,600 crore). Serum institute of India's Adar Poonawalla and current lead-owner Manoj Badale are also part of the consortium that bought the 2008 champions. This comes after the Kal Somani–Rob Walton–Sheila Ford Hamp consortium pulled out of the race.
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