Punjab Kings enter the IPL 2026 mini-auction on the edge of not making a big enough blunder yet plug their holes. With only four spots to fill and a purse that is big enough to act, PBKS are basically choosing what kind of team they want to be in the margins: a side that wins match-ups through balance or one that keeps gambling in chaos.
The key is that their needs are already public - PBKS have said that they are hunting for an explosive middle-order batter, a reliable backup keeper, and an extra Indian bowling option.
PBKS retained players, slots left, purse left
PBKS have retained 21 players and released five - Josh Inglis, Glenn Maxwell, Aaron Hardie, Kuldeep Sen, Pravin Dubey.
Their retained spine includes: Priyansh Arya, Prabhsimran Singh, Shreyas Iyer, Nehal Wadhera, Shashank Singh, Marcus Stoinis, Azmatullah Omarzai, Marco Jansen, Lockier Ferguson, Xavier Bartlett, Arshdeep Singh, Yuzvendra Chahal, and Harpreet Brar.
They enter the auction with INR 11.50 crore, four slots left, and two overseas slots available.
Also Read: IPL 2026 auction: Purse size, sets, slots left, venue and time - everything you need to know
1) Michael Bracewell (INR 2 cr)
Michael Bracewell is a net plug-in for what PBKS lose in Glenn Maxwell. A batter who can change a phase and an off-spinner who gives you match-up control. On spin-friendly surfaces, he also lets PBKS build a smarter middle-overs squeeze alongside Chahal without reshuffling the whole XI.
2) Jordan Cox (INR 75 lakh)
{{/usCountry}}Michael Bracewell is a net plug-in for what PBKS lose in Glenn Maxwell. A batter who can change a phase and an off-spinner who gives you match-up control. On spin-friendly surfaces, he also lets PBKS build a smarter middle-overs squeeze alongside Chahal without reshuffling the whole XI.
2) Jordan Cox (INR 75 lakh)
{{/usCountry}}PBKS aren’t asking for a tourist. They want a playable reserve, someone who can step in without PBKS having redesign their batting order. Jordan Cox fits the brief and, crucially, fits the purse logic: PBKS can get their keeper cover without sacrificing budget.
3) Kartik Sharma or Salil Arora (INR 30 lakh)
Talking about keeper batters, there has been a lot of talk about Kartik Sharma and Salil Arora late in the build up the auction. Both these batters have proven themselves in the latest edition of the SMAT. Being uncapped Indians, PBKS can ponder bringing either of them, and it is expected that they would be able to get their target within INR 3 cr.
4) Akash Madhwal (INR 30 lakh)
Mini-auctions are where teams either plan for fatigue or pretend fatigue won’t happen. With Arshdeep as the lead India quick, PBKS need one more Indian seamer they can trust if injuries hit or if they want workload rotation. Akash Madhwal is the low-base, high-utility kind of buy that stops one bad week from becoming a season-long leak.