RCB acquired by ABG, Times, Bolt and Blackstone consortium for Rs 166B in all-cash deal

United Spirits Limited (“USL” or “the Company”), pursuant to the meeting of its Board of Directors, today announced that it has entered into definitive agreements for the sale of the 100% equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited (“RCSPL”) to a consortium comprising Aditya Birla Group (“ABG”), The Times of India Group (“Times”), Bolt Ventures (“Bolt”), and Blackstone’s perpetual private equity strategy, BXPE ("Blackstone") for a total consideration of INR 166.6 bn in an all cash transaction.

RCSPL owns and operates Royal Challengers Bengaluru (“RCB”) franchises that participate in the Indian Premier League (“IPL”) and Women’s Premier League (“WPL”). Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise. This announcement concludes the strategic review of RCSPL that was initiated by USL, as announced on November 05, 2025.

The transaction is subject to satisfactory completion of customary closing conditions and legal, regulatory and other approvals, including from the Board of Control for Cricket in India (“BCCI”) and the Competition Commission of India.

Commenting on the transaction, Praveen Someshwar, MD & CEO, USL, said: 

“This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential with sustained growth, and to continue delivering on long-term value creation for our stakeholders. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL. Guided by its ‘Play Bold’ philosophy and a strong competitive spirit, it has built a globally recognized brand and a passionate fan base. We are excited for the future of RCB under the stewardship of the new owner. As Sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders. On behalf of USL, I thank everyone who has contributed to RCB’s journey for their continued support - the BCCI, the fans, players and employees.”

The Acquiring consortium stated:

“We are proud to become custodians of RCB and grateful to USL and Diageo for the franchise they have built. RCB's championship-winning culture, its deep connection to Bengaluru, and one of the most passionate fanbases in world sport make this an extraordinary opportunity. We are committed to taking RCB to new heights, on the pitch and beyond.”

Citigroup India and AZB Partners served as advisors and counsel to USL.