Diageo, the multinational alcoholic beverage company and owner of Royal Challengers Bengaluru teams in IPL and WPL, has taken the first steps towards divesting its stake in the franchise.

In a filing with India's market regulator, the Securities and Exchange Board of India (SEBI), on Wednesday, Diageo said it was conducting a "strategic review" of its investment in RCB through Royal Challengers Sports Private Limited (RCSPL) - the parent company that owns the men's and women's teams. The review is expected to be completed by March 31, 2026, the end of India's financial year (RCSPL is a fully owned subsidiary of United Spirits Ltd. (USL) which in turn is owned by Diageo).

"RCSPL has been a valuable and strategic asset for USL; however, it is non-core to our alcobev (alcohol and beverage

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