IPL Auction 2026: The Indian all-rounder Venkatesh Iyer snapped up the deal of Rs 7 crore by Royal Challengers Bengaluru (RCB) in the Indian Premier League (IPL) 2026 auction on Tuesday.

Lucknow Super Giants (LSG) initiated the battle, swiftly followed by Gujarat Titans, who jumped in at Rs 2.20 crore. Gujarat Titans (GT) bowed out at Rs 2.80 crore, paving the way for RCB's entry at Rs 3 crore.

The rivalry between RCB and KKR ignited a bidding war. The KKR pushed the bid to Rs 6 crore, but RCB retaliated with an offer of Rs 6.60 crore. In a nail-biting finale, KKR pulled out at Rs 7 crore, thus paving the way for RCB to secure Iyer.

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Iyer's IPL 2026 valuation has taken a massive hit, plummeting 70 per cent from Rs 23.75 crore of the 2025 auction to Rs 7 crore.

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The 30-year-old Iyer has been a Knight for a long time, donning the KKR jersey in all 62 of his IPL appearances, slamming 1468 runs at an average of 29.95 and a blazing strike rate of 137.32.