A record-breaking sale has taken place at the Saffronart spring auction, with Raja Ravi Varma's oil painting 'Yashoda and Krishna' selling for ₹167.2 crore.
The 35 x 28.25-inch painting, created in the 1890s, is the costliest Indian painting to be sold in an auction to date.
The buyer, Cyrus S Poonawalla, founder and managing director of the Serum Institute of India, expressed his privilege in acquiring the national treasure.
The sale surpasses the previous record set by Maqbool Fida Husain's work, which sold for $13.7 million (approximately ₹118.7 crore) at a Christie's auction in New York.
Raja Ravi Varma's works are classified as national treasures and are non-exportable, making the buyer an Indian collector.
