Lakshmi Mittal announced the acquisition of IPL franchise Rajasthan Royals for a huge sum of USD 1.65 billion (approximately Rs 15,600 crore) along with his son Aditya Mittal and Adar Poonawalla. The Mittal family has bought the major stake in the franchise, with 75 per cent of ownership falling to them, while Serum Institute of India's Adar Poonawalla has an 18 per cent stake in the team. The remaining 7 per cent will stay with the approved existing investors, including Manoj Badale.
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