Rules of the draft
New Rising's Sanjeev Goenka and Intex's Keshav Bansal will be the most busy men today as their franchises (Pune and Rajkot respectively) will pick five players each from the pool of 50 cricketers (belonging to suspended teams Chennai Super Kings and Rajasthan Royals).
Those who will not be selected, will go into the IPL auctions, to be held in February, 2016.
The cricketers from the two suspended franchises will be divided into two groups - capped and uncapped.
The first capped player is worth Rs12.5 crore while the remaining four capped players are worth Rs 9.5 crore, Rs 7.5 crore, Rs 5.5 crore and Rs 4 crore. Whereas for any uncapped player it will also be Rs 4 crore.
The two new teams will have a minimum purse of Rs 40 crore and a maximum of Rs 66 crore to buy the players.
Pune will get the chance to select the first player from the draft as they had managed to bid lowest in the team auction (Rs 10 crore). Rajkot (Rs 16 crore) will get the next shot.