KOLKATA KNIGHT Riders (KKR) has reportedly emerged as the latest Indian Premier League franchise to explore a stake sale.
KKR is operated under Knight Riders Sports Private Limited and is co-owned by Bollywood superstar Shah Rukh Khan (55% stake) and actress Juhi Chawla, and her businessman husband Jay Mehta (45%).
Moneycontrol, quoting multiple industry sources, reports KKR is evaluating a minority stake sale, even as peers Royal Challengers Bengaluru (RCB) and Rajasthan Royals (RR) consider larger ownership changes.
Unlike RCB and RR, which are exploring majority or controlling stake sales, sources indicated to the business platform that only the Mehta Group is considering divesting a minority holding in KKR to unlock value. The discussions are said to be at an early stage, with the size of the stake and valuation still under evaluation.
According to people familiar with the matter, investment bank Nomura has been appointed as the sell-side advisor for the proposed transaction. The process could be formally launched in early 2026, although deal contours may evolve depending on investor interest and market conditions.
When contacted by Moneycontrol, a KKR spokesperson declined to comment, citing the sensitivity of the information. Red Chillies Entertainment, Jay Mehta, Juhi Chawla, the Mehta Group and Nomura did not respond to queries at the time of publication.
The potential KKR transaction comes against the backdrop of heightened M&A interest in the IPL ecosystem. Rajasthan Royals’ promoters have initiated discussions around a controlling stake sale at a valuation of over $1 billion, while United Spirits Ltd is reviewing its investment in Royal Challengers Bengaluru, reportedly seeking a valuation of around $2 billion.
KKR is among the most successful franchises in IPL history, having lifted the trophy three times in 2012, 2014 and most recently in 2024. The team also finished runners-up in the 2014 Champions League T20 and the 2021 IPL season. Eden Gardens in Kolkata serves as the franchise’s home ground.
Beyond the IPL, Knight Riders Sports has built a global cricket footprint, owning Trinbago Knight Riders in the Caribbean Premier League, Abu Dhabi Knight Riders in the UAE’s ILT20, and Los Angeles Knight Riders in Major League Cricket in the US.
