(Source: www.ibnlive.com)

The second round of India Premier League auctions are virtually over and among the big name players who have been picked up are Pakistan's Misbah-ul-Haq who has gone to Bangalore.

All the 16 players of the Under-19 World Cup winning Indian team were up for grabs.

India's under-19 skipper Virat Kohli, who was available at a fixed price of Rs 12 lakh, was bought by the Bangalore team.

Pakistani and Bangladeshi cricketers also went under the hammer.

Bangladesh left-arm spinner Abdur Razzaq has also gone to Bangalore.

The Jaipur IPL team had 1.7 million dollars to spend. They added Australian all-rounder Shane Watson, Pakistan's Sohail Tanvir, England's Dimitri Mascarenhas and South Africa's Morne Morkel to their team.

Shah Rukh Khan's Kolkata team called 'Kolkata Knight Riders' have also picked up two Pakistan players in Salman Butt and Mohammad Hafeez.

Australian all-rounders Luke Pomerbach and James Hopes will play for Mohali. The Mumbai team has picked up South Africa’s Ashwell Prince. New Zealand fast bowler Kyle Mills has been purchased by Mohali while his teammate Ross Taylor has gone to Bangalore.

There were no takers for Pakistan’s Mohammad Yousuf who will be paid his base price of 330,000 us dollars anyway by the IPL.

The U-19 players would be allocated to the franchisees on a 'draft' format. As per the 'draft' format, franchise owners would be made to pick up numbers 1-8.

The U-19 players would be allocated to the franchisees on a 'draft' format. As per the 'draft' format, franchise owners would be made to pick up numbers 1-8.

The franchise, which draws number one in the draft, will get the first choice to pick the best player that they perceive from the list. The same franchise will also get the 16th pick in the draft.

The franchise, which picks number two, will get the second and 15th choice and so on and so forth, the release said.

The Colts can be signed at a fixed player fee of $30,000 (Rs 12 lakh) and the list includes victorious captain Virat Kohli, Saurabh Tiwary, Srivats Goswami and Taruvar Kohli.

The auction will allow team franchises to finalise their playing squads at least 30 days prior to the start of the Twenty20 event on April 18. The first players auction saw 77 players being auctioned off for sums ranging from $1.5 million to $400,000.

A fresh set of 25 players, who have already been centrally contracted to the BCCI, will also form part of the auction process which will see Pakistan players Misbah Ul Haq, Salman Butt, Mohammed Yousuf and Yasir Hameed go under the hammer along with seven New Zealand cricketers, a media release said.

The list of Kiwi players includes pacemen Kyle Mills, James Franklin and Chris Martin, spinner Jeetan Patel and batsmen Ross Taylor, Peter Fulton and Jamie How.

With $2.05 million of unspent money in their pocket, the Jaipur franchise will have the upper hand in the auctions.