As many as 33 interested parties - including all ten men's IPL franchises - had initially expressed interest by securing the tender document. But on Monday, only 17 entities submitted technical bids, including seven men's IPL franchises: Mumbai Indians, Delhi Capitals, Kolkata Knight Riders, Punjab Kings, Rajasthan Royals, Sunrisers Hyderabad and Royal Challengers Bangalore.
No base price has been set by the BCCI. Bidders will submit their bids in a sealed envelope. Bids will be accepted for a ten-year period, but the winners will own the team for perpetuity just like the owners of the men's IPL franchises do. Bidders will vie for one of the ten cities the BCCI has shortlisted as home bases.
Bidders have been given the option of contesting more than one franchise or city, but the BCCI will award them only the city they have bid a higher amount for. In case two of the highest bids for a single venue are equal, a re-bid will take place.
In the bid document, BCCI has said that it is not "obliged to accept highest monetary offer", and has listed some objectives it will look into before finalising the winner. These include: "establishing a stable, successful, financially secure, long-term Franchise to participate in the League; ensuring the widest coverage and the widest possible audience for the League; assisting in the development of the game of women's cricket in India at all levels; maximizing and enhancing exposure, wherever possible, for each of the official sponsors of the League; and, increasing and enhancing exposure for women's cricket in India both within India and the rest of the world."
No firm date has been announced by the BCCI, but the auction is expected to be held in the first week of February. The BCCI has already concluded the player-registration process as a first step towards conducting the auction.
INR 12 crore (USD 1.46 million approx.) will be the auction purse for the inaugural season. Each team can buy a minimum of 15 and a maximum of 18 players, including seven overseas players including at least one Associate player. Unlike in the men's IPL, WIPL teams will have the option of fielding up to five overseas players in the XI, provided one is from an Associate country.
Although not officially announced, ESPNcricinfo understands that a window between March 3 and 26 has been carved out.
A total of 22 matches will be played in the inaugural season, with each team playing the other twice to make it a total of eight games per team. The top-ranked team will enter the final directly, while the second- and third-placed teams will face off in a Qualifier to determine the second finalist.