The Sahara Group run by businessman Subrata Roy purchased the Pune team and Rendezvous Sports bought the Kochi team on Sunday for the fourth edition of the cash-rich Indian Premier League (IPL) tournament.

Five bidders took part in the bid for these two teams today.

Indian Premier League Commissioner Lalit Modi made the announcement that the Sahara Group has purchased the Pune team and Rendezvous Sports purchased the Kochi team.

It is reported that Sahara Group purchased the Pune team for Rs 1702 crores, while Rendezvous Sports bought the Kochi team for Rs 1533 crores.

Five bidders had lined up on Friday for submission of bids, to qualify for the auction, which took place today morning, a top BCCI official said. (ANI)