RCB sale to Adar Poonawalla: Unlisted shares of Chennai Super Kings (CSK) might be set for a re-rating if the deal between Adar Poonawalla and Diageo is materialized for the proposed sale of Royal Challengers Bengaluru (RCB), an Indian Premier League (IPL)franchise owned by Diageo-backed United Spirits. Some experts see a manifold jump in CSK’s stock price value. Advertisement

Media reports suggest that global spirits major Diageo has initiated the process to sell its stake in the team seeking a valuation close to $2 billion (Rs 17,500 crore). Serum Institute’s owner Adar Poonawalla has shown his interest in the brewer, which sees running RCB franchise as its non-core business. Foreign investment bank Citi is said to be appointed as transaction advisor.

Shares of CSK are currently tradi

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