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What do companies that buy two new IPL teams do? who is their owner

By making the highest bid for the team of Lucknow, RPS Goenka Group has made this team in its name. It had made the highest bid of Rs 7,090 crore. Whereas CVC Capital has made a winning bid of Rs 5,625 crore for the Ahmedabad team.

A total of 10 teams will now take part in the Indian Premier League (IPL). By making the highest bid for the team of Lucknow, RPS Goenka Group has made this team in its name. It had made the highest bid of Rs 7,090 crore. Whereas CVC Capital has made a winning bid of Rs 5,625 crore for the Ahmedabad team. Now the question arises that who are these two companies. Let us know about them.

RPS Goenka Group

RP Sanjeev Goenka Group is an Indian multinational company, headquartered in Kolkata. It was started by Sanjeev Goenka, younger son of Ram Prasad Goenka. The company was incorporated on 13 July 2011. It has an asset base of $6 billion and revenue at $4 billion. The Group’s businesses include Power & Energy, Carbon Black Manufacturing, Retail, IT-Services, FMCG, Media & Entertainment, Infrastructure and Education.

Ramprasad Goenka founded RPG Enterprises in the year 1979. In 1981, the group acquired CEAT Tyres. In 2010, the group’s business was divided among Ram Prasad Goenka’s sons Harsh Goenka and Sanjeev Goenka. RP- Sanjeev Goenka Group was started on 13 July 2011, with Sanjiv Goenka as its chairman.

CVC Capital Partners

CVC Capital Partners is a private equity and investment advisory company. The company has invested around $111 billion in European and Asian private equity, credit and growth funds since its inception. Funds managed by CVC have been invested in 73 companies worldwide, employing more than three lakh people in different countries. Since 1981, CVC has made over half a million investments in different industries and countries. It was started in the year 1981 and today there are more than 400 employees working in 24 offices in Europe, Asia and America.

American banking company Citicorp started its investment unit in the year 1968. The purpose of which was to focus on venture capital investments. By the late 1970s and early 1980s, Citicorp was investing in early-stage businesses led by Venture Capital Chairman William T. Comfort. CVC Capital Partners was started in 1981 as its European company.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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