Manoj Badale promoted Emerging Media (IPL) is picking 50.3% stake direct stake in Jaipur IPL Cricket. Manoj Badale, co-founder and managing partner of the UK-based venture capital group Blenheim Chalcot, is acquiring majority stake in Rajasthan Royals, the team that won the first edition of the Indian Premier League (IPL) in 2008 but ended up in the bottom half of chart in this year’s edition of the domestic 20-20 cricket tournament. Badale promoted Emerging Media (IPL) is picking 50.3% stake direct stake in Jaipur IPL Cricket, the company which has the franchise for the Rajasthan Royals team. Currently, it is wholly-owned by Mauritius-based EM Sporting Holdings (ESH). Although, the team was perceived to be largely owned by Badale, he was a minority partner in the Mauritius holding company. Nigeria-based NRI family Chellarams holds 44.1% in this venture and is the single largest shareholder.Emerging Media (IPL), promoted by Badale, owns 32.4% in this holding company while the rest 23.5% is equally split between Blue Water Estate, representing Lachlan Murdoch and Kuki Investments, which is promoted by UK-based Kundra family and is also believed to represent investments of Bollywood actress Shilpa Shetty. Post this transaction, Emerging Media (IPL) will own 50.3% direct stake in the cricket team besides an indirect stake of around 16% through the Mauritius joint venture.
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