IPL teams are hot property

As the Indian Premier League (IPL) cricket tournament draws closer, the buzz around team owners selling partial or even full stakes in their franchises gets stronger, writes Priyanka Mehra Dayal in the Mint.

Shares of publisher Deccan Chronicle Holdings Ltd, owner of Deccan Chargers, surged after the report that Kings XI Punjab had been sold, prompting speculation the firm’s valuation may increase. The stock rose 4.9% to Rs152.30 on the Bombay Stock Exchange.

Meanwhile, Delhi Daredevils is looking to sell a 30% stake and is in talks with investors, confirmed a senior executive from the IPL franchise owned by GMR Holdings Pvt. Ltd, an infrastructure and construction firm.