IPL Auction Day 1 Highlights: INR 27 crore man Pant, Shreyas and Venkatesh the headline makers on Day 1

IPL Auction LIVE: One could argue that GT have done the best business today thus far. They have added Jos Buttler to a top order that already had Shubman Gill and Sai Sudharsan. In their bowling lineup, they have added Mohammed Siraj and Kagiso Rabada and they already have Rashid Khan.

IPL Auction LIVE: Still a while to go for the start of the next session. These are the players who will go under the hammer first up:

Harry Brook

Devon Conway

Jake Fraser-McGurk

Aiden Markram

Devdutt Padikkal

David Warner

Rahul Tripathi

IPL Auction LIVE: They made the headline buy and they seem very happy about it. "No matter how much you plan, things don’t always work out like that. This (getting Pant for 27 crore) was very well to our plan. It wasn’t really a magic number, we just wanted a number so that the RTM doesn’t get exercised," says Shashwat Goenka

IPL Auction LIVE:"Elated to join the PBKS family, can't wait to kickstart the season. Looking forward," says Shreyas Iyer in his first reaction to the auction.

IPL Auction LIVE: GT assistant coach Parthiv Patel said that Jos Buttler can help out Shubman Gill with regards to leading the team. “Very happy to have Jos Buttler in our side. He can bat anywhere, he can keep as well, he can help Shubman also. We wanted to buy our no. 1 bowler and no. 1 batter from the marquee set and we have both,” he said.

IPL Auction LIVE: Batter 1: Harry Brook, Devon Conway, Jake Fraser-McGurk, Aiden Markram, Devdutt Padikkal, Rahul Tripathi, David Warner

All-rounder 1: Ravichandran Ashwin, Venkatesh Iyer, Mitchell Marsh, Glenn Maxwell, Harshal Patel, Rachin Ravindra, Marcus Stoinis

WK 1: Jonny Bairstow, QDK, Ramanullah Gurbaz, Ishan Kishan, Phil Salt, Jitesh Sharma

Fast bowler 1: Khaleel Ahmed, Trent Boult, Josh Hazlewood, Avesh Khan, Prasidh Krishna, T Natarajan, Anrich Nortje

Spinner 1: Noor Ahmad, Rahul Chahar, Wanindu Hasaranga, Waqar Salamkheil, Adam Zampa, Maheesh Theekshana

IPL Auction LIVE:Ricky Ponting just spoke about PBKS's business, especially if Shreyas Iyer is going to be their new captain. “I haven’t spoken to him (Shreyas Iyer about captaincy) yet, I tried to call him before the auction but he didn’t pick up. He’s been a successful captain in IPL before, I worked with him 3for -4 years in Delhi and he was the championship winner last season. I’m delighted to work with him again, if he can do that for us in the IPL I’ll be pretty happy,” he said.

IPL Auction LIVE: Well at the end of it all, it went somewhat according to the predictions, but not quite at the same time. That doesn't make sense but well, the IPL auction rarely ever does make sense. Pant was expected to be the most expensive player but then LSG jumping straight to INR 27 crore to beat DC's RTM was a surprise. Shreyas Iyer being so comprehensively ahead of KL Rahul was also a bit unexpected. The Marquee Set has been completed, the biggest names have gone to their respective new teams. We now have a 45-minute lunch break, and I personally am going to put my fingers in some ice water.

IPL Auction LIVE: KKR don't stick around too long in the bid, pulling out at INR 11.75 crore after which CSK challenged DC with INR 11.25 crore. It keeps going and then finally, DC take him for INR 14 crore. Sagar asks LSG if they want to use RTM as formality, no prizes for guessing their answer.

IPL Auction LIVE: He was the other potential record breaker everyone was talking about along with Rishabh Pant. What we can be sure about for now is that LSG are not going to raise their paddle even a millimetre here. KKR and RCB battle it out first, the latter pull out at INR 10.50 crore and it is now betrween DC and KKR.

IPL Auction LIVE: RCB are the first to raise the paddle, SRH battle it out with them. DC later come in and it is a war between them and RCB until INR 6.75 crore, at which point CSK come in with INR 7 crore. RCB stick to their guns, the bid crosses INR 8 crore, RCB then wins it at INR 8.75 crore. PBKS don't take the RTM.

IPL Auction LIVE: It took a few more seconds than usual for the bidding to begin but once it did, the paddles went up at the speed of sound. IT was between GT and CSK at first, the latter pulled out after GT raised INR 8.25 crore, RR then came in for their former player, they stayed in it until INR 2 crore.

IPL Auction LIVE: PBKS have come in with a proper shopping list today. It was between them and SRH all the way for Chahal's signature. SRH finally bowed out at INR 17.75 crore, PBKS raised the paddle at INR 18 crore and that was that.

IPL Auction LIVE: GT and CSK initially bid for Chahal and the cost rises to INR 5.75 crore before PBKS replace the latter. GT pull out at INR 6.75 crore after which LSG battle it out with PBKS for the spinner. The bid has since crossed INR 12 crore.

IPL Auction LIVE: GT are the first to bid for Miller, RCB battle it out with tem initially. The bid rises to INR 5 crore when DC come in but RCB stay in it. They seem to have it at INR 7.25 crore when LSG come in with INR 7.50 crore. There was some deliberation among GT of activating their RTM but they decide against it.

IPL Auction LIVE: He will be donning the orange of SRH and bowling in tandem with Pat Cummins. That's scary for other teams. KKR and CSK started the bidding, the latter pulled out at INR 8.25 crore after which LSG briefly entered the fray. KKR seemed to have won the bid at INR 9.75 crore but SRH raise the paddle at INR 10.00 crore. KKR shake their heads.

IPL Auction LIVE: Phew! The record for most expensive player broken twice in the first set itself. Pant has gone to LSG, Iyer to PBKS, Buttler to GT, Starc to DC and Rabada to GT. Now for Set 2 and the first man is Mohammed Shami.

IPL Auction LIVE: There it is! Pant breaks the record just minutes after Iyer did the same. Welcome to the mega auction! LSG stay put on their bid, SRH finally pull out when the former raise the paddle for INR 20.75 crore. Then the DC uses the RTM card, LSG raises the bid to a slam dunk INR 27 crore straightaway. Well there was no matching that for DC.

IPL Auction LIVE: Well this was the one that was expected to break the records. Pant had replaced Iyer as DC captain, let's see if he can replace him as the most expensive player of all time in IPL auction. Initial bids are amid big cheers from the crowd, LSG started and RCB joined in. It was then between LSG and SRH after RCB pull out at INR 11.75 crore. And well, that amount has just raced to INR 19.25 crore with LSG.

IPL Auction LIVE: All right, his record has been shattered, can it be reset again? MI start the bid and their battle is with KKR at first. MI pull out after raising for INR 6.25 crore after which DC enter the fray. KKR pull out after DC raise for INR 10.25 crore after which RCB come in for their former player. DC stay strong though and finally takes Starc at INR 11.75 crore.

IPL Auction LIVE: RR start the bid straight away and GT join in. RR finally pull out at INR 9.25 crore but PBKS jump in for this one as well. They stay until INR 13.25 crore at which point LSG become GT's competitors. The bid goes on till INR 15.75 crore at which point LSG shake their heads. The England captain will play for GT next season.

IPL Auction LIVE: The record set by KKR to buy Mitchell Starc last year has been obliterated. Shreyas Iyer has been sold to PBKS and it seems pretty clear that he will be leading them next season. Delhi Capitals tapped out at ₹26.50 crore. PBKS had the highest purse and they have made the early big moves, possibly the biggest moves of the auction.

IPL Auction LIVE: Well DC and PBKS have just blasted past the amount KKR paid for Mitchell Starc last year. The bid has reached INR 26.25 crore with Punjab Kings and then Delhi Capitals have a very long deliberation. Then they raise the paddle - INR 26.50 crore. Well, well, well...

IPL Auction LIVE: DC are in it for the long haul with Shreyas Iyer! KKR pull out at ₹10 crore but PBKS have been fighting it out for the batter ever since. The bid has raced past INR 22 crore and it looks like Shreyas might just break Mitchell Starc's record here.

IPL Auction LIVE: The title-winning captain from last season Shreyas Iyer is up next, the first batter of this auction to go under the hammer. And it is his side KKR who raise the paddle first. PBKS fight it out with them until the price raises to INR 7.25 crore but then Iyer's former side DC join the fray! They just let go of Rishabh Pant, remember, the man who had replaced Iyer as captain at DC.