When Aditya Birla group-owned Ultratech bought out N. Srinivasan and his ilk in The India Cements Ltd., the iconic Chennai Super Kings (the Chennai franchise of the Indian Premier League) remained with him.
For many Chennaites, The India Cements Ltd. sans CSK (Chennai Super Kings) was unthinkable! Things have come a long way since then.
Well, a consortium comprising the Aditya Birla group, The Times of India group, Bolt Ventures and Blakstone’s perpetual private equity strategy BXPE has now acquired Royal Challengers Sports Private Ltd., which owns the Bengaluru franchise of IPL, from United Spirits Ltd. for a whopping Rs. 16,660 crore in an all-cash deal!
This is some comfort indeed for the long-time watchers of The India Cements Ltd. By virtue of the fact that it has already come under the fold of the Aditya Birla group, the association of The India Cements Ltd. with the IPL appears to have come back, albeit in an indirect way.
Though cricket has long been perceived as a male-dominated sport, the evolution of IPL suggests that this mega sporting event is turning out to be a classic showcase for women empowerment. Most of the IPL franchises – Chennai, Mumbai, Hyderabad, Bengaluru, Rajasthan and Punjab – are now spearheaded by womenfolk. Well, cricket has changed a lot. And, the churn in the IPL is resetting the Indian sporting environment.
The recent valuations of RCB and Rajasthan Royals franchises indeed shows how IPL is increasingly becoming a popular annual sporting extravaganza.