SINGAPORE: KPH Dream Cricket, owner of Indian Premier League team Kings XI Punjab, has started hiring banks for a domestic IPO of Rs4bn-Rs5bn (US$60m-$75m), people with knowledge of the transaction said.
The float is planned for next year and is likely to comprise primary and secondary shares.
The shareholders of KPH Dream Cricket include actress Preity Zinta and industrialists Ness Wadia and Mohit Burman. KPH Dream did not respond to an email seeking comment. Started in 2008, IPL is one of cricket’s most popular leagues and comprises eight teams. In the annual tournament held in May Kings XI Punjab stood at seventh place.—REUTERS