Born in 1981 to Dr. Cyrus Poonawalla, founder of SII. He was educated at The Bishop's School in Pune and the University of Westminster in London, Adar Poonawalla is the CEO of the Serum Institute of India (SII), the world’s largest vaccine manufacturer by volume. Known as the "Vaccine Prince of India," he gained global prominence for his leadership during the COVID-19 pandemic, where SII produced the Covishield vaccine (developed by Oxford-AstraZeneca). On May 3, 2026, a landmark deal was announced where Poonawalla partnered with the billionaire Lakshmi Mittal family to acquire a controlling stake in the IPL franchise Rajasthan Royals (RR). The acquisition marks one of the most expensive ownership deals in IPL history.
The deal values the franchise at approximately $1.65 billion (₹15,660 crore). The Mittal family owns the maximum stakes of the franchise in the form of 75% ownership while Adar Poonawalla holds 18% stakes. The remaining 7% stays with previous investors, including Manoj Badale. Poonawalla has been aggressively diversifying his business interests beyond pharmaceuticals. He has a net worth of approximately $16.3 billion as of late 2024. In 2024, he acquired a 50% stake in Karan Johar’s Dharma Productions for ₹1,000 crore. He is the chairman of Poonawalla Fincorp, which he rebranded after acquiring a majority stake in Magma Fincorp in 2021.
Adar Poonawalla opens up on acquiring Rajasthan Royals
Adar Poonawalla has officially addressed his entry into the IPL as a minority owner of the Rajasthan Royals (RR), describing the move as a strategic alignment with India's premier sporting brand. The announcement, made on May 3, 2026, follows months of speculation where he was also linked to a potential bid for Royal Challengers Bengaluru (RCB).
Adar Poonawalla, said: “I am delighted to partner with Aditya Mittal on this investment. Rajasthan Royals is a premier IPL franchise with a strong legacy, and I look forward to supporting its continued growth and long-term success.”
Poonawalla's acquisition of RR is part of a broader 2024–2026 expansion into the entertainment and sports sectors. This includes his 2024 purchase of a 50% stake in Dharma Productions for ₹1,000 crore, signaling his shift from a pharmaceutical-heavy portfolio to a more diverse consumer-facing conglomerate.
