Shares of and zoomed up to 20% in Wednesday’s trading session, March 25, after the high-profile Royal Challengers Bengaluru deal (RCB) last night, underscoring how capital markets are beginning to reprice the business potential of (IPL) franchises.
The RCB deal, worth ₹16,600 crore, is being seen as a valuation marker and has effectively repriced the entire IPL cohort, according to experts, with re-rating expected to spill over to RPSG and Sun TV, which own and , respectively.
RPSG share price rallied as much as 19.6% to ₹726.20 on the BSE today. This is the second straight day of gains for the -owned company. In March, the stock has jumped 4% even as the Indian stock markets bled amid the West Asia conflict worries.
At the same time, Sun TV Network shares jumped 4.99% to ₹649.40 and edged closer to their 52-week high of ₹691 hit in April last year. This stock is down 2.9% in March but has outperformed the index, which has lost almost 9%.
Harshal Dasani, Business Head at INVAsset PMS, said that the sharp uptick in shares of RSPG and Sun TV Network is not just sentiment-driven around cricket but a structural shift: IPL teams are increasingly being valued as scalable media and consumer brands rather than pure sporting assets.
“Recent franchise transactions and media rights auctions—where IPL broadcast and digital rights fetched over $6.2 billion for a five-year cycle—have reset valuation benchmarks across the ecosystem,” he said.
He added that for listed entities like RPSG and Sun TV, the rally reflects expectations of monetisation beyond match revenues. Sponsorship income, digital content, merchandising and potential spin-offs are now key levers.
He noted that IPL teams are increasingly shifting toward franchise-style annuity models, supported by rising central revenue pools and cost discipline through salary caps. He added that the RCB deal marks a transition in IPL team ownership, from a vanity investment to a serious balance-sheet asset with long-term earnings visibility.
RCB’s ₹16,600-crore deal
Meanwhile, shares of United Spirits declined almost 2% after it sold its stake in .
The group, led by the Aditya Birla Group along with The Times of India Group, Bolt Ventures, and Blackstone, will take full ownership of RCB, including both its IPL and Women’s Premier League (WPL) teams.
This deal concludes the strategic review of RCSPL that was initiated by USL, as announced on November 05, 2025.
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