The Indian Premier League‘s business value has gone up 6.5% year-on-year to ₹1.37 lakh crore, as per a recent research report.

What Happened: Global investment bank Houlihan Lokey released a report on the business enterprise and brand values of the IPL on Wednesday. The standalone brand value of the IPL has risen by 6.3%, reaching $3.4 billion (₹28,409 crore) over the past year.

See Also: Air Fares Burning A Hole In Your Pocket? India’s New Aviation Minister Wants To Change That

Despite not qualifying for the playoffs in 2024, CSK remains the most valued franchise with a brand value of $231 million (₹1,930 crore), marking a 9% growth from the previous year. The IPL’s valuation has nearly doubled from 2022 when it was reported at $8.5 billion.

With this, the IPL is now more valued than most listed companies in India. Its valuation is higher than some of India’s biggest names such as Hero MotoCorp, Tata Consumers and Britannia. If the franchise league was a listed entity it would have been the 66th most valued company on the National Stock Exchange.

Read Next: Haldiram’s Said To Be Eyeing IPO Amid Stalled Overseas Sale Talks