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Adar Poonawalla in Talks to Buy RCB Stake: United Spirits Shares Update
Adar Poonawalla, CEO of Serum Institute, is reportedly in discussions with Diageo to acquire a stake in Royal Challengers Bangalore (RCB), one of the Indian Premier League’s marquee teams.
While the valuation is pegged at $2 billion, sources indicate that the figure is currently high and talks are ongoing.
United Spirits, the parent company managing RCB, filed with the BSE stating it would not comment on market speculation:
“Reference the captioned subject, the Company would not like to comment as it does not respond to market speculation.”
Citi has been appointed as the transaction advisor for the deal, signalling a serious potential move that could enhance the IPL’s global brand and market value.
United Spirits Shares & Analyst Views
Despite the ongoing news, brokers maintain a positive outlook on United Spirits:
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JM Financial values the standalone business at 51x September 27E EPS, adding Rs 130 per share for RCSPL, with a target price of Rs 1,475 and an ‘add’ rating.
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Antique Stock Broking and Nirmal Bang have ‘buy’ ratings with target prices of Rs 1,747 and Rs 1,650, respectively.
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Nuvama Institutional Equities expects a 2–3% short-term impact on volumes due to GST transitions but maintains United Spirits as a preferred pick with a target of Rs 1,710.
Analysts cite strong revenue growth, EBITDA, and PAT, along with resilient pre-tax RoEs and RoCEs averaging 20% and 28% between FY25–FY28, as key factors supporting a bullish outlook.
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Published: Oct 02, 2025
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