Rajasthan Royals may go public

Rajasthan Royals, the winners of the inaugural Indian Premier League, could soon be going public. According to sources, the owners of the team, Emerging Media, have decided to float some equity in the market and get listed on the stock exchange.
While the sources couldn't confirm under what name the listing will be done, they said it was certain that the franchisee would go public ``very soon''. “There are many ways to go public and they are working out the modalities,”' a source close to Emerging Media told TOI on Wednesday.
This may not seem like the ideal time to be coming out with an equity issue, but the owners of Emerging Media are said to be optimistic and believe that they can cash in on the brand value earned from winning the first IPL. “Rajasthan Royals will again be visible in the Champions League (which in-volves the Jaipur and Chennai teams and T20 league finalists from South Af-rica, Australia and Pakistan) and that is something which will help the stock,” the source said.
When TOI contacted Manoj Badale, the owner of Emerging Media, he re-fused to comment on the development. Asked for their comments, officials of other franchises said they were not sure if going public was allowed under IPL rules. However, top sources in the IPL said if there was a problem, there could be a special order and this would be discussed at the three-day brain storming session between the IPL and franchisees in Goa next month. Under IPL rules, franchisees can sell only a minority stake in the franchise before the three-year period of their contract ends. That means up to 49% of Rajasthan Royals could be up for grabs.
Chennai Super Kings, Kings XI Punjab and Hy-derabad’s Deccan Chargers haven’t done booming business in their first year, but sources said they were not rushing to dilute their stakes just yet. After Jaipur miss, is Chennai in fray for CL ties?
Jaipur: Team Jaipur will not get home advantage as the city is not in the running to be one of the hosts for the high profile event. “The tournament will be held from December 2-10 and Jaipur, along with other north Indian centres, will not be considered because there is a lot of dew here in the evenings at that time of the year,” BCCI vice-president Lalit Modi said. This may well open the door for Chennai to get their ‘home matches’ of the tournament.

1 Comentário:

ASIN said...

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