Chasing 200, MI rode on Suryakumar Yadav's 35-ball 83, ably supported by young Nehal Wadhera's unbeaten 34-ball 52, to chase down the target in 16.3 overs.
Earlier, Glenn Maxwell and skipper Faf du Plessis smashed half-centuries to guide Royal Challengers Bangalore to 199 for six.
Sent into bat, RCB lost Virat Kohli and Anuj Rawat quickly before Du Plessis (65 off 41 balls) and Maxwell (68 off 33) joined hands to stitch 120 runs in just 67 balls.
Towards the end, Dinesh Karthik made an 18-ball-30.
Brief Scores:
Royal Challengers Bangalore: 199 for 6 in 20 overs (Glenn Maxwell 68, Faf du Plessis 65; Jason Behrendorff 3/36).
Mumbai Indians: 200 for 4 in 16.3 overs (Suryakumar Yadav 83, Nehal Wadhera 52 not out; Vijaykumar Vyshak 2/37).
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New Delhi (PTI): KL Rahul blended grace with power to script a stroke-filled 152, the third-highest individual IPL score, while Nitish Rana (91) batted with authority as the duo powered hosts Delhi Capitals to a mammoth 264 for 2 against Punjab Kings here on Saturday.
Setting a target for the first time this season, the Capitals came out with clear intent, attacking anything in their arc from the outset.
The home team hit a total of 29 fours and 13 sixes to put on board the highest total of the 2026 IPL season.
Striking at over 200 throughout the 20 overs, Rahul (152 off 67 balls) unfurled a range of classical strokes all around the ground, seamlessly combining timing with aggression to put up the highest-score ever by an Indian in the IPL.
With the knock, he also became only the third player to go beyond 150-run mark after Chris Gayle (175) and Brendon McCullum (158).
Dropped on 18 by Shashank Singh, he made full use of the reprieve, forging a 220-run stand with local boy Rana for the second wicket. It was second biggest stand in IPL history behind 229 set by Virat Kohli and AB de Villiers.
Rana looked completely at ease on his home ground. His 44-ball knock, laced with 11 fours and 4 sixes, provided the perfect foil as the duo kept the scoreboard ticking at a brisk pace.
Rahul set the tone early, striking back-to-back boundaries in the second over before Pathum Nissanka chipped in with a crisp four.
Although Punjab struck an early blow with Nissanka top-edging to the keeper, their bowlers found little respite thereafter. They were also guilty of a few misfields, which only added to their woes.
Rahul and Rana seized control, punishing anything loose and propelling Delhi to 68 for one, DC's best powerplay score of the season before plundering 145 runs in the middle overs.
Rana then shifted gears in spectacular fashion, taking apart Australian pacer Xavier Bartlett in the 12th over for 28 runs.
The left-hander dealt exclusively in boundaries, smashing two sixes and four fours in a sequence of 6,4,4,4,4,6.
At the other end, Rahul was equally ruthless, taking a liking to Vijaykumar Vyshak in the 16th over, from which he plundered three sixes and a four, as Delhi tightened their grip on the contest.
