Tiger Global, an investment firm, is in touch with Rajasthan Royals to pick up stakes in the IPL franchise, ET reported. The company is trying to pump 40 million dollars (Rs 330 crore) into the company. The paper said the company is offering a whopping valuation of 650 million dollars (Rs 5382 crore) for Rajasthan Royals, which won the inaugural season of IPL in 2008. Manoj Badale, a UK-based businessman, holds a majority stake in the franchise. Who is he?
According to the paper, the company can either directly infuse money or back one of its shareholders.
Badale owns a 60 percent stake in Rajasthan Royals. The deal is yet to be closed.
Who is Manoj Badale?
Badale is the co-founder of Blenheim Chalcot, a US-based venture capitalist. He founded the company in 1998.
The company has a portfolio of over 350 million pounds. It also has assets under management to the tune of 800 million pounds (Rs 8200 crore).
They have over 3000 employees and have invested in 40 companies.
He was born in Maharashtra's Dhule. He did his education from Jai Hind High School. He graduated with an economics degree from Cambridge University.
Badale was born in Dhule Maharashtra India, his primary education was held in Jai Hind High School, Dhule and was educated at the
University of Cambridge, where he studied economics.
His reported net worth is around 160 million dollars. If the deal goes through, the net worth is expected to go up.
