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Five IPL franchises enter Hurun India 500 as sport turns asset class | Business

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The Indian Premier League (IPL) has long blurred the line between sport, entertainment and commerce. The 2025 Burgundy Private Hurun India 500 has now given that shift a corporate stamp, with five IPL franchises making their debut among India’s 500 most valuable non-state-run companies.

 


Kolkata Knight Riders (KKR), Chennai Super Kings (CSK), Royal Challengers Bengaluru (RCB), Rajasthan Royals (RR) and Punjab Kings (PBKS) have entered the list, becoming part of the same corporate universe as India’s largest private-sector businesses. Their combined valuation of more than Rs 71,000 crore signals a defining moment for Indian sport: cricket franchises are no longer being seen only as teams, but as mature business enterprises.

 
 

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“Cricket is no longer just India’s sport; it is India’s business. The debut of CSK, KKR, PBKS, RR and RCB on the 2025 Hurun India 500, with a combined valuation of over Rs 71,000 crore, is a defining moment: for the first time, the boardroom and the boundary rope are on the same list,” said Anas Rahman Junaid, founder and chief researcher, Hurun India.

 


Knight Riders leads the group at rank 270 with a valuation of Rs 20,850 crore, followed by Super Kings at rank 285 with Rs 19,550 crore. RCB has been valued at Rs 16,700 crore, placing it at rank 330. Royals is ranked 343 with a valuation of Rs 15,700 crore, while Punjab Kings entered at rank 390 with Rs 14,050 crore.

 

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The debut of IPL franchises in the Hurun India 500 marks a shift in how sports properties are being valued in India. For years, IPL teams were seen largely through the prism of on-field performance, star players, sponsorship deals and fan loyalty. Their entry into a list of India’s most valuable private-sector companies suggests that investors and valuation experts are now looking at them as scalable corporate assets.

 


An IPL franchise today resembles a consumer-facing enterprise as much as a sports team. Its value is tied not only to wins and losses but also to the strength of its brand, the size of its fan base, its ability to attract sponsors, and the predictability of cash flows from cricket’s most valuable league.

 

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Why KKR, CSK and RCB lead the table

 


The ranking also shows how brand depth and market recall are being rewarded. KKR, CSK and RCB are the three most valuable franchises among the five that entered the list.

 

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KKR’s valuation of Rs 20,850 crore puts it ahead of the other IPL entities in the ranking. CSK follows closely at Rs 19,550 crore, underlining the value of one of the league’s most consistent and widely followed franchises. RCB, valued at Rs 16,700 crore, continues to command significant corporate value despite not having the same title-winning history as CSK or KKR.

 


This suggests that franchise value is no longer determined only by trophies. Fan loyalty, brand visibility, star association and marketability also shape enterprise value. RCB’s presence in the top three among IPL franchises is a clear example of how a large and engaged fan base can translate into corporate worth.

 

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Rajasthan Royals and Punjab Kings, valued at Rs 15,700 crore and Rs 14,050 crore, respectively, show that the value creation is not limited to the league’s most decorated teams. Even franchises with uneven on-field histories are now valuable enough to sit among India’s top 500 non-state-run companies.

 


The IPL’s corporate evolution

 

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The IPL has always been a commercial success, but this development reflects a deeper evolution. Franchises are now being valued as enterprises with recurring relevance rather than seasonal visibility.

 


A strong IPL team can generate commercial value across multiple layers. It offers live sport inventory, digital engagement, sponsorship exposure, content opportunities and brand extensions. The league’s annual cycle also keeps franchises in public conversation through auctions, retentions, player trades, pre-season campaigns, match windows and off-season content.

 

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Total India Inc value exceeds $3.4 trillion

 


The 2025 Burgundy Private Hurun India 500 values India’s 500 most valuable non-state-run companies at $3.4 trillion. To qualify for the list, companies needed a minimum valuation of Rs 10,230 crore as of April 30, 2026, up 7 per cent from last year. The cohort employs 8.9 million people, contributes Rs 3.23 trillion in taxes, and invests Rs 13,433 crore in corporate social responsibility initiatives.

 

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“The companies in the 2025 Burgundy Private Hurun India 500 form the backbone of India’s private sector, wielding significant economic influence. Together, they have a cumulative valuation of US$3.4 trillion — higher than the GDP of Canada and the combined GDPs of Indonesia and Spain — and employ 8.9 million people,” Junaid said.

 


Reliance Industries retained the top rank for the fifth consecutive year, while Bharti Airtel entered the top tier after adding Rs 7.6 trillion in value since 2021. The list saw 95 new entrants, the highest in its history. Financial services and healthcare dominated value creation, while artificial intelligence, defence manufacturing and renewable energy emerged as important growth themes. Sarvam AI became the first homegrown large language model developer to enter the list.

 

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Arnika Dixit, Group Head – Cards, Payments and Wealth Management, Axis Bank, said the report reflected a phase of steady evolution in India’s corporate landscape, where companies were building scale even as they adapted, invested through cycles, and found new ways to stay relevant.

 


“What is increasingly evident is how the drivers of value creation are becoming more varied, with momentum extending beyond traditional centres into a wider, more diverse set of businesses and markets,” Dixit said.

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World Cup Daily: Star forwards continue to shine

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Mission accomplished for the hosts.

Canada, Mexico, and the United States all have secured their places in the round of 32 after Wednesday’s World Cup play, ensuring the three co-host nations will be represented when the knockout stage begins.

Elsewhere, Brazil’s Vinícius Júnior continued his electric start to the tournament, Morocco survived a six-goal thriller against Haiti, and South Africa pulled a fast one over favoured South Korea.

Here are the biggest takeaways from Day 14 at the 2026 World Cup.

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The 40 seconds that changed everything

Canada’s second-place finish in Group B will be celebrated by some. But Wednesday’s defeat also highlighted the fine margins that separate good teams from elite ones.

After weathering early Swiss pressure and relying on a superb Maxime Crépeau save to keep the deadlock, Les Rouges entered halftime level with momentum on their side.

Then, in the blink of an eye, everything changed.

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Switzerland struck just 40 seconds into the second half through Ruben Vargas, with Johan Manzambi doubling the lead after a rare Crépeau error. Canada went from dreaming of top spot in Group B to chasing the game almost instantly.

The frustrating part for Canada will be how avoidable both goals felt. The opening goal stemmed from defensive disorganization, while the second came from an individual mistake. At this level, brief lapses are immediately punished. Switzerland demonstrated the composure, quality and ruthlessness that experienced tournament teams possess.

In many ways, that was the biggest lesson of the afternoon. Canada spent much of the first half growing into the match, only to undo that progress within the opening minutes of the second. Against top European opposition, concentration cannot dip for even a moment.

Yet, Canada showed why this tournament still holds promise.

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Rather than folding after falling behind, Jesse Marsch’s men responded with determination. Substitute Promise David scored with his first touch after a brilliant team move, setting up a tense finale that showcased the attacking quality this squad possesses.

The result means Switzerland tops Group B, while Canada advances as runners-up and must travel to Los Angeles to face South Africa in the round of 32 on Sunday. Still, the overarching picture remains positive. Canada reached the knockouts for the first time and now has firsthand experience of what it takes to match the best on the world stage, even with a few missed opportunities.

The challenge moving forward is simple: learn from mistakes, tighten up details, and carry the same resilience into the next round.

If Group C had a theme on Wednesday, it was efficiency in front of goal.

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Brazil underlined its superiority with an emphatic win over Scotland that felt more like a friendly than a World Cup group decider. Vinícius was once again the difference, punishing a careless Scott McKenna to open the scoring before adding his second. Matheus Cunha provided the third, combining flair with sincerity as Brazil sealed top spot in Group C.

For Scotland, the frustration won’t be just the scoreline, but how easily Brazil was allowed to settle. There’s a clear distinction between losing to quality and being defeated by avoidable mistakes; this was firmly the latter. Scotland paid for every lapse in judgement.

Elsewhere, Morocco and Haiti produced a chaotic thriller that confirmed the African champions as runners-up. Haiti twice pulled ahead before halftime, but Morocco’s depth ultimately prevailed. The turning point came from the bench, with Soufiane Rahimi and Gessime Yassine both making an immediate impact to swing the game back in Morocco’s favour.

All in all, Wednesday’s Group C action reflected a wider tournament pattern: the biggest stars aren’t just influencing games, they’re defining them. Whether it’s Vinícius, Norway’s Erling Haaland, Argentina’s Lionel Messi, France’s Kylian Mbappé, or even Morocco’s impact substitutes, this World Cup is increasingly being shaped by forwards who punish even the smallest hesitation.

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Defensive lapses in decisive moments

What stood out on Day 14 wasn’t sustained pressure, but how quickly teams fall apart when caught off guard.

Canada was the clearest example, caught flat-footed immediately after the break. Czechia struggled to cope with Mexico’s transitions, often misplacing passes and failing to disrupt attacks early enough. South Korea, meanwhile, was consistently on the back foot, unable to keep pace with South Africa’s aggression.

None of this was about being overrun for long spells. It was about basic defensive standards failing at key moments: lapses in awareness, slow reactions, and a lack of control once the game sped up.

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On Wednesday, it decided more than a few results. The contrast was striking: forwards were making big plays, but defending across several matches simply wasn’t at the same level.

One of the most touching moments at BC Place came before kickoff. Injured midfielder Ismaël Koné, who suffered a devastating leg injury in Canada’s previous match, was wheeled onto the pitch to chants of “Koné! Koné!” from the home crowd. The tribute continued during the national anthem, when thousands of supporters held up red No. 8 signs in his honour. 

Just before halftime, Haiti’s Wilson Isidor delivered a moment of quality that brought his side level. From distance, the Sunderland striker took his chance with composure and confidence, striking an unstoppable rocket into the top-left corner.

In his post-match press conference, Jesse Marsch revealed that Alphonso Davies was a “decoy” and never intended to feature against Switzerland – a move designed to make the opposition believe he was available. Mind games from the Canada coach? 

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1. Vinícius Júnior (Brazil): Four goals in three games and playing like a man ready to inherit Brazil’s crown. The finishes haven’t always been flashy, but he has made them count At a World Cup where the biggest stars are delivering, Vinícius has been among the brightest.

2. Johan Manzambi (Switzerland): A goal, an assist, and a star-making performance. The Swiss wonderkid turned the match on its head, firing his country to the top of Group B and announcing himself on the world stage.

3. Mateo Chávez (Mexico): The 22-year-old, son of former Mexican professional footballer Paulo César Chávez, sent Mexico City into ecstasy, netting El Tri’s first goal of the night. The left-back neatly found the bottom left corner on his World Cup debut, shifting momentum to the home team.

Honourable Mention: Promise David (Canada): One touch, one goal, one jolt of belief. Introduced from the bench, the 24-year-old needed only seconds to find the net and breathe life into Canada’s hopes in a pivotal moment. It was also the tournament’s second-fastest goal by a substitute.

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Honkai Star Rail 4.5 drip marketing speculation

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The Honkai Star Rail 4.5 drip marketing campaign is upon us, as the second half of the ongoing patch has commenced. As usual, the developers are expected to announce at least two 5-star units that will become playable during the update. Since version 4.5’s drip marketing is right around the corner, players might wonder about the characters alongside the schedule.

In this article, we discuss the expected schedule and characters of the Honkai Star Rail 4.5 drip marketing campaign.

Note: Some aspects of this article are based on speculations. Readers are advised to take the information herein with a grain of salt.


Honkai Star Rail 4.5 drip marketing campaign schedule speculation

Aventurine (Image via HoYoverse)Aventurine (Image via HoYoverse)
Aventurine (Image via HoYoverse)

According to past schedules, the Honkai Star Rail 4.5 drip marketing campaign is likely to commence on June 30, 2026. As for the timing, HoYoverse is expected to announce the limited-time 5-star unit at 12:00 pm (CST/UTC+8). If the developers decide to announce two characters, the second one will be revealed the next day at 12 pm.

Since the abovementioned time is for players in Asia, Trailblazers from other regions might wonder when the characters will be announced for them. For those curious, we have listed the expected date and time of HSR 4.5’s drip marketing campaign:

Date Time Timezone
June 29, 2026 9:00 pm Pacific Daylight Time (UTC-7)
June 30, 2026 6:00 am Central European Summer Time (UTC+2)
June 30, 2026 12:00 pm China Standard Time (UTC+8)

Honkai Star Rail 4.5 drip marketing campaign character announcements speculation

Besides the HSR 4.5 drip marketing campaign’s schedule, players are more excited about the characters. According to a reliable third-party source, Sakura Haven, two units are expected to become playable during the said update. According to their information, these two characters will likely be Robin SP and Aventurine SP. Hence, there is a chance of these two units being a part of the campaign. Furthermore, the leak suggests the former will tread on the Remembrance Path, while the latter will supposedly follow the Elation Path.

Moving on, there is no information regarding a 4-star character joining the playable roster in HSR 4.5 or anytime soon. Most leaks revolving around upcoming units are generally 5-stars.

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