RPSG Ventures Ltd - Update On Previous Announcement In Relation To Successful Bid For A New Indian Premier League Franchise Of Lucknow

As mentioned in our earlier announcement dated 25 October 2021, the Company was declared the<BR> successful bidder for the right to own and operate the Lucknow Franchise of the Indian Premier League<BR> ("IPL") at Bharat Ratna Shri Atal Bihari Vajpayee Ekana Cricket Stadium from and including the 2022 season, by the Board of Control for Cricket in India ("BCCI").<BR> For the purpose of the above, a subsidiary of the Company, namely RPSG Sports Private Limited has been incorporated wherein the Company is holding a 51% stake and the balance stake is held by private and unlisted company of RP-Sanjiv Goenka group. The Franchise Agreement has been executed on 24 November, 2021 by RPSG Sports Private Limited with the BCCI where the Company is a confirming party<BR> Kindly take the above on record.