Pune and Rajkot have been picked as the bases for the two new Indian Premier League (IPL) franchises for the next two years. Sanjeev Goenka's New Rising won the bid for a team based in Pune, while Intex mobile claimed the Rajkot team. The two teams will be active in IPL for the next two seasons. 
In an aggressive bidding process, the Sanjeev Goenka-led 'New Rising' consortium bid -16 crore INR for the Pune franchise while Keshav Bansal's Intex Mobiles picked up the Rajkot side for a value of -10 crore. BCCI had set a base price of 40 crore for the reverse bidding exercise with prospective buyers bidding for a share of the board's central revenue pool.
With their bids in the negatives, the owners of the two new teams have decided to forego their share but will instead contribute to the BCCI's coffers.
The bidding activity on Tuesday (December 8) that transpired under the aegis of Anurag Thakur, BCCI Secretary and Rajeev Shukla, the IPL Chairmam, witnessed participation from only five of the 21 business houses that had initially purchased BCCI's Invitation to Tender (ITT) document.
"Intex as a brand has been associated with cricket for a very long time," Bansal said after making the winning bid. "It was an exciting process. We were the most aggressive bidders. We are pucca Hindustani (true Indians). We will give importance to Indian players first."
Praising Intex's decision to select Rajkot, Niranjan Shah, the former BCCI 
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