Looking to dilute stake in Pune Warriors: Roy
Sahara Group Chief Subrata Roy has said he will consider reducing his stake in IPL team Pune Warriors, which he acquired for USD 370 million, and indicated there will be no infusion of additional resources in the outfit.
- Press Trust of India
- Updated: March 28, 2011 04:59 PM IST
Sahara Group Chief Subrata Roy has said he will consider reducing his stake in IPL team Pune Warriors, which he acquired for USD 370 million, and indicated there will be no infusion of additional resources in the outfit.
"We need not put any money (in the IPL team) in future.
We are thinking about diluting some stake," Roy said.
The company plans to "dilute some percentage (of the IPL team) and raise debts", a move that makes commercial sense, he told PTI.
Roy said several companies have expressed interest in acquiring a stake in his Pune Warriors team, but Sahara Group will wait for a satisfactory alliance.
Roy also said his group is looking at more global properties, particularly in the hospitality sector. The Sahara Group recently acquired London's Grosvenor House Hotel.