INVESTOFIN - The finance club of JIMS organised the sixth edition of IPL Auction on Tuesday, February 17, 2025, for students of the PGDM programs in General, International Business, and Retail Management. The activity aimed to showcase the team management and critical thinking skills of students in a high-stakes environment. Additionally, testing their knowledge of diversification, risk assessment and fund management with a brief overview of auction investing.
25 teams registered to participate in the competition, and 18 showed up on the day. Each team consisted of 3 members. Firstly, in the elimination round, all the registered teams were required to send one member each as their representative to take a cricket quiz. Out of which only the top 10 teams qualified to participate in the later rounds.
Then the competition was divided into 2 rounds. The 10 qualified teams engaged in a closed bidding war for 8 IPL franchises, namely: Chennai Super Kings, Mumbai Indians, Royal Challengers Bangalore, Delhi Capitals, Kolkata Knight Riders, Sunrisers Hyderabad, Gujarat Titans and Rajasthan Royals. They were provided with the sum of Rs. 15 CR of virtual money for the same. In case of multiple bids with the same amount for a franchise, the bid with the second-highest amount won. The top 8 teams that managed to successfully bid and own a franchise further moved to the next and final round.
Before the commencement of the final round, teams were provided with a sum of Rs. 45 CR in addition to the 15 CR provided to them in the previous round. Round 3 was a simulation of the IPL Auction of players, which involved teams bidding and purchasing players comprising bowlers, batsmen, wicketkeepers and all-rounders. The franchises were given points based on their popularity and titles won, and all players were given points based on their BCCI grading.
The final evaluation was done on the basis of the highest sum of franchise and players' points with each team. The teams that didn’t meet the criteria required were disqualified. Club coordinators were assigned to teams for the evaluation of the points with each team. Teams with the highest sum of points were declared winners.
The lively participation of all 18 teams was appreciated.
The winning team was awarded the prize sum of Rs. 3000, and the 2nd and 3rd position holding teams were awarded Rs. 2000 and Rs. 1000, respectively.