USL to start strategic review of investment in IPL team Royal Challengers Bengaluru
New Delhi (PTI): United Spirits Ltd (USL), part of multinational alcoholic beverages company Diageo, on Wednesday said it is going to have a strategic review of its investment in Royal Challengers Sports Pvt Ltd (RCSPL), the entity that owns IPL T20 team Royal Challengers Bengaluru.
Hinting towards the sale of the business, USL, in a regulatory filing on Wednesday, said it is "initiating a strategic review of the investment in its wholly-owned subsidiary, RCSPL."
RCSPL's business comprises ownership of the “Royal Challengers Bengaluru (RCB)” franchise teams that participate in the Men's Indian Premier League (IPL) and Women's Premier League (WPL) cricket tournaments hosted by the Board of Control for Cricket in India (BCCI) annually.
RCB, the team that had India's cricket star Virat Kohli, won its first Indian Premier League title earlier this year.
The company expects the entire process of strategic review to be completed by the end of this fiscal.
"It is expected the process will conclude by March 31st, 2026," said USL Managing Director & CEO Praveen Someshwar.
According to Someshwar, though RCSPL has been a valuable and strategic asset for USL, it’s non-core to our alcoholic beverage business.
"This step reinforces USL’s & Diageo’s commitment to continue reviewing its India enterprise portfolio to enable sustained delivery of long-term value to all its stakeholders, while keeping RCSPL’s best interest in mind," he said.
RCB was one of the founding teams of the IPL, which was founded in 2008 by its previous owner Vijay Mallya. It came into the fold of Diageo, after it took Mallya's liquor business United Spirits Ltd.
RCB, whose home ground is M Chinnaswamy Stadium, won their first title in 2025 and finished as the runners-up on three occasions -- 2009, 2011, and 2016.
Earlier, in September, some media reports had claimed that Serum Institute CEO Adar Poonawalla was in talks with USL for a possible acquisition of RCB.
Recently, in a post on X (formerly Twitter) platform, Poonawalla said, “At the right valuation, RCB is a great team,” signalling his interest in acquiring the 2025 IPL champion team.
Earlier, in May 2022 after a the strategic review of selected Popular brands, USL had sold and franchised selected brands to Inbrew Beverages.
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Time to give half of country's population its rights: PM Modi to LS MPs on women's quota bill
New Delhi (PTI): Prime Minister Narendra Modi on Friday appealed to all Lok Sabha members to vote in favour of the women's reservation bill and not do anything that might hurt the sentiments of the country's 'nari shakti'.
Hours before the voting on the Constitution (131st Amendment) Bill, which provides for 33 per cent reservation for women in the Lok Sabha and state assemblies, Modi also said that for four decades, a great deal of politics has been played on the issue of women's quota and it is now time that half the country's population gets its rights.
Members of the Lower House will also vote on the Delimitation Bill and the Union Territories Laws (Amendment) Bill for the delimitation of constituencies and increasing the strength of the Lok Sabha to 816 to implement the proposed amended women's quota law.
"In just a short while, voting will take place in the Lok Sabha. I urge all political parties... I appeal...Please, after due consideration and with complete sensitivity, take a decision and vote in favour of women's reservation.
"On behalf of the country's 'Nari Shakti', I also plead to all members... please do not do anything that might hurt the sentiments of 'Nari Shakti'," Modi said in his appeal in Hindi posted on X.
He said this is a great opportunity to extend service to the women of the country and to honour them, and the MPs should not deprive them of new opportunities.
"I would say to all the members of Parliament... Keeping in mind your mother, sister, daughter and wife at home, listen to your conscience. If this amendment is passed by consensus, the women of the country will become even more empowered. The democracy of the country will become even more empowered," he said.
"Come, let us together create history today. Give the women of India, the country's half population, their rightful due," the PM said.
