Former cricketer and current BJP MP from East Delhi, Gautam Gambhir, is looking to pick up a 10% stake in IPL team Delhi Capitals for about Rs 100 crore ($14 million), The Times of India reported.
He is in talks with the GMR group, which owns 50% stake in the company. The remaining 50% is held by JSW Sports. The deal awaits clearance from the governing council of IPL, which is owned by BCCI.
JSW Sports picked up the stake last year for Rs 550 crore from GMR Sports Pvt. Ltd.
In another development, online food delivery firm Swiggy is in talks to raise $300 million (Rs 2,139.7 crore) in internal funding from its existing investors, after several months of discussions with external investors including Japan’s SoftBank didn’t materialise, two people privy to the development told Entrackr.
Prosus Ventures (formerly Naspers Ventures), which owns around 40% of Swiggy, is likely to invest over $150 million while the remaining will pour in from other existing investors.