India, Jan. 22 -- Adar Poonawalla, a billionaire pharma tycoon, on Thursday confirmed that he would officially place a "strong" bid to acquire the 2025 Indian Premier League (IPL) champions, Royal Challengers Bengaluru (RCB). It is worth mentioning that Diageo, the parent company of United Spirits Ltd.,had put RCB on sale, and this development came months after the franchise ended its IPL title drought by winning the 2025 edition of the tournament. For months now, it has been speculated that the CEO of Serum Institute of India and Chairman of Poonawalla Fincorp is interested in buying one of the most popular teams across the world.

On Thursday, Poonawalla confirmed the development, saying he would place a bid in the coming months to acqu...