By Rasmus Sjögren, Alexander Henje, Haris Jasarevic, and Nikolas Kakona (Stockholm School of Economics); Gilles Michaud and Marc Bellon (HEC Paris). Photo: Marcus Wallis (Unsplash) Overview of the deal Acquirer: Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone (BXPE) Target: Royal Challengers Bengaluru (RCB) - men's IPL & women's WPL franchise Implied Equity Value: ~$1.78 billion (₹166.6 billion) Total Transaction Size: ~$1.78 billion (₹166.6 billio