Jeddah, Nov 24 (IANS): Punjab Kings have bought India pacer Arshdeep Singh for Rs 18 crore after using their Right to Match (RTM) card in the IPL 2024 Auction here at the Abadi Al Johar Arena in Jeddah on Sunday.

Arshdeep, with a base price of Rs 2 crore, was the first pick of the auction in the first set of marquee players. Chennai Super Kings were the first to raise their paddle followed by Delhi Capitals, Gujarat Titans, Rajasthan Royals and Sunrisers Hyderabad.

Sunrisers Hyderabad won the final bid for Arshdeep at Rs 15.75 crore before Punjab used their RTM card for their player. SRH raised the price to Rs 18 cr which Punjab agreed to spare to acquire the services of the pacer.

The two-day bidding action began after the opening speech from the IPL Chairman Arun Dhumal.

Punjab Kings have the highest purse of Rs 110.5 crore for the two-day gala event after retaining just two players - Shashank Singh, and Prabhsimran Singh - before the auction.

Kagiso Rabada was the next player on the list and was bagged by Gujarat Titans for Rs 10.75 crore. GT headed to the auction with a purse of Rs 69 crore after retaining Rashid Khan, Shubman Gill, Sai Sudharsan, Rahul Tewatia and Shahrukh Khan.