Rajasthan (Royals) turns towards Gujarat for Team Sponsorship!

The latest to this addition is Ahmadabad-based health and personal care major Paras Pharma which has been roped in by Rajasthan Royals as their lead sponsors for the event.

However, the details of the deal are still kept under wraps but if sources are to be believed, the deal is expected to be worth a minimum of Rs 10 crore. Paras Pharma had replaced Aditya Birla Group firm UltraTech Cement which was the lead sponsor for the team prior to them.

It seems Rajasthan Royals management has been taking a lot of financial decisions as the deal with Paras Pharma is followed by another deal earlier this year that saw Emerging Media group-owned Rajasthan Royals transferring a 12 per cent stake to Bollywood actor Shilpa Shetty and her newlywed London based husband Raj Kundra.

This deal was closed at a value of $140 million.

Coming back to the deal between Paras Pharma and Rajasthan Royals, the players from the team would sport the logo of the flagship brand of Paras ' Moov.

Paras Pharma has as much as 15 popular brands under its umbrella including Krack, D'Cold, Dermi Cool and SetWet.

The 400 crore Ahmadabad based Patel owned company has 60 per cent stake owned by Private Equity firm "Actis' in it. The rest of the stake is equally owned by one of the brothers, Girish Patel and another PE firm Sequoia Capital.