Raj Kundra picks up 11% in Rajasthan Royals

Raj Kundra, a UK-based NRI entrepreneur, has picked up 11% stake in Rajasthan Royals, the Jaipur franchisee of the Indian Premier League, for about $15.4 million, valuing the team at $140 million.

By Leena Mulchandani, ET Bureau | Feb 03, 2009, 12.58 PM IST

MUMBAI: Raj Kundra, a UK-based NRI entrepreneur, has picked up 11% stake in Rajasthan Royals, the Jaipur franchisee of the Indian Premier League, for about $15.4 million, valuing the team at $140 million.

The funds would be utilised for taking the Rajasthan Royals brand global by conducting international tours and also extending the brand to other sports.

Emerging Media, the owner of the Rajasthan Royals, has been trying to sell a portion of its stake in the last three months.

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