Diazio India, UK -based Diazio PLC Indian subsidiary and owner Royal Challengers Bangalore (RCB) Franchise in Indian Premier League (IPL) has denied reports that suggest that there are plans to sell their ownership stake in the franchise.
Diazio India clarified that media reports about alleged sales are a purely speculative to the Bombay Stock Exchange (BSE) and BSE Monitoring Department through a letter on Tuesday, June 10.
Mital Sanghvi, quoted by Cricbuz, said, “The company would like to clarify that the aforesaid media report is speculative in nature, and it is not chasing such a discussion. It is for your information and record.”
Diazio has been registered with the Bombay Stock Exchange (BSE) and has seen an increase in shares of his Indian subsidiary United Spirits after speculation about the possible sales of the RCB franchise, a week later, when he won his first Indian Premier League title.
Bloomberg had reported that DIEGEO is searching for options to sell RCB, which increased the market discussion on Tuesday. The news came out after RCB won its first IPL title since the establishment of the league in 2008. However, the celebration in Bengaluru became tragic on June 4, as 11 people lost their lives and many others were injured during the Vijay Utsav.
“As a public company, there would be great pressure on reputed damage,” said a famous voice on sports ecosystem in the country with intensive knowledge of the IPL landscape.
Reports suggest that Diazio is considering evaluation of USD 2 billion for RCB, one of the eight original IPL franchises established by Vijay Mallya in 2008. Titans (GT) of Gujarat were compared, which was earned by Torrent for 7,500 crores by Torrent, about 1 billion.
But, the founder of Lalit Modi, IPL It is believed that RCB's evaluation of USD 2 billion is appropriate. He said that the evaluation of GT was a year -old deal and said that if RCB is sold at even more price, it would not be surprised.
Bloomberg report said, “No decision is final, and they can decide against selling the team, people said, which should not be named as the details are private.”
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