Gujarat-based industrialist Gautam Adani will bid for the Ahmedabad franchise of the Indian Premier League.

"We have decided to bid for the Ahmedabad team of IPL," a source from the group told PTI.

Asked whether the group is going to bid jointly with any other company or individual, he said, "We will bid individually."

Presently, there are eight IPL franchises and the IPL governing council will add two more from the 2011 season.

"Under this Invitation to Tender, the winning bidders in respect of two locations in India will be granted the right to own and operate a new team which will compete in the IPL in each year from 2011 and onwards. From the 2011 IPL Season on wards it is therefore anticipated that the number of teams will increase from 8 to 10 teams," it was stated.

"Bids will be opened at 12 noon on Sunday, March 7, 2010. The winning bids will be announced in the manner set out in the invitation to tender."