Captain cool Mahendra Singh Dhoni was the first one to be picked up by the Pune franchise in the IPL draft for the stipulated price of Rs 12.5 crore.

The two new Indian Premier League franchises from Pune and Rajkot met on Tuesday to pick their five key players each from the 50-player draft.

Sanjeev Goenka’s New Rising won the bid for the Pune franchise while Intex won the bid for Rajkot after a reverse bidding process held in Delhi on December 8 to replace suspended teams Chennai Super Kings and Rajasthan Royals for the next two editions to be held in 2016 and 2017.