Rajasthan Royals, whose majority shareholder is UK-based Manoj Badale at 60 per cent, are likely to get a direct or indirect capital infusion from Tiger Global, who may back one of the shareholders.
Tiger Global, who have investment in Flipkart, Zomato, Delhivery among others, has been looking for investment opportunities in the IPL for a while now as they look for expansion beyond the digital e-commerce space.
As per Economics Times, the investor also held talks with other IPL franchises but their agreement with Rajasthan Royals is likely to be confirmed soon. The report, however, stated that Rajasthan Royals spokesperson denied such reports while Tiger Global refused to comment on the matter.
Earlier in 2021, US-based RedBird Capital picked up shares of Rajasthan Royals at a valuation of more than $250 million in a secondary deal.
Rajasthan Royals, who are the inaugural winner of the IPL and finished runners-up last year, failed to reach the playoffs this season as the side ran out of steam in the closing stages of the league phase. The side finished sixth on the points table tied with Royal Challengers Bangalore (finished 5th) at 14 points.
