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INDIA BUSINESS WORLD - November 16th December 31st 2008
ANSHU JAIN, HEAD OF GLOBAL MARKETS AT DEUTSCHE BANK TAKES 15% STAKE IN MUMBAI INDIANS, THE INDIAN PREMIER LEAGUE (IPL) CRICKET TEAM
ANSHU Jain, head of global markets at Deutsche Bank, has bought a minority stake in Mumbai Indians, the Indian Premier League (IPL) cricket team owned by Reliance Industries chairman Mukesh Ambani.
London-based Mr Jain, a keen cricket enthusiast who is often seen at the Lord’s cricket ground, is said to have picked up the stake in his personal capacity.
Reliance did not respond to an emailed query asking it to confirm the information while Deutsche Bank does not comment on personal investments of its executives.
According to a person familiar with the matter, Mr Jain’s investment in the Sachin Tendulkar-led team was made “some time ago” and was for sheer love of the game. One estimate is that his stake could amount to 15%.
The franchise for Mumbai Indians, which includes players such as Harbhajan Singh, South Africa’s Shaun Pollock and Sri Lankan Sanath Jaisuriya, was won by Mr Ambani for $119.11 million as part of a high-stakes auction in which he outbid liquor baron Vijay Mallya.
Mr Mallya later successfully bid for the Bangalore team called Royal Challengers.
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