One of the world’s leading diamond manufacturing companies and owner of jewellery brand ORRA, Rosy Blue has entered the Indian Premier League (IPL) bandwagon as an owner of one of the new franchises for the 2011 season. The company is a member of the Rendezvous Sports World Ltd., a five-member consortium, which bagged Kochi franchise for US $ 333.33 million (Rs. 1,533 crore) on Sunday. The Indian Premier League (also known as the "DLF Indian Premier League" and often abbreviated as IPL), is a 20-20 cricket competition created by the Board of Control for Cricket in India (BCCI).%% Rosy Blue Group has a presence in 14 countries and employs over 10,000 people. Other members of Rendezvous Sports World Ltd include Vivek Venugopal ,a builder from Kerala; Anchor Switches, a company from Gujarat owned by Mehul Shah; Mukesh Patel, an education baron who runs technology, management and engineering institutions and Shailendra Gaikwad. The consortium was the second highest bidder behind Sahara Adventure Sports of Sahara Group, which bagged the Pune franchise at US$ 370 million. The ownership of the franchise is for ten years.