The new teams, for which there were a total of five bidders, fill the void left by the two-year suspensions on the Chennai and Rajasthan franchises following an illegal betting scandal that broke out in 2013.
New Rising, a consortium led by Sanjiv Goenka, chairman of the RP-Sanjiv Goenka Group, bagged the Pune team while mobile manufacturers Intex made a successful bid for Rajkot in a reverse bidding process.
Under reverse bidding, investors were asked to bid lower than the base price of 400 million rupees (about $6 million), the maximum amount the BCCI offered to pay from the IPL central revenue pool to the new owner.
