The Indian Premier League (IPL) 2027 season is already taking shape, with franchises making significant changes to their squads ahead of the mini-auction. Several established Indian internationals and overseas players have switched teams, including Hardik Pandya, Rishabh Pant, Arshdeep Singh and Kuldeep Yadav.

The biggest headline is the exchange between Mumbai Indians (MI) and Punjab Kings (PBKS), which sees Hardik move to Punjab while Arshdeep heads to Mumbai. The reshuffle also brings Pant back to Delhi Capitals (DC), while Lucknow Super Giants (LSG) acquire Kuldeep from the Delhi franchise.

With the IPL 2027 retention deadline approaching, these deals could have a considerable influence on how teams approach the upcoming auction.

Hardik Pandya and Arshdeep Singh headline IPL 2027 trade

Hardik Pandya will leave Mumbai Indians for Punjab Kings at a revised fee of ₹18 crore, up from his existing ₹16.35 crore contract. Arshdeep Singh moves in the opposite direction at his existing fee of ₹18 crore.

Hardik's departure brings an end to his latest stint as Mumbai's captain, a position he assumed in 2024 after returning to the franchise. Punjab, meanwhile, gain an experienced all-rounder who has previously represented Mumbai Indians and Gujarat Titans.

For Mumbai, Arshdeep's arrival adds another established Indian fast bowler to a bowling group featuring Jasprit Bumrah. The left-arm pacer has taken 111 IPL wickets for Punjab, making him the franchise's leading wicket-taker.

Rishabh Pant returns to Delhi Capitals, Kuldeep joins LSG

Another significant development involves Rishabh Pant and Kuldeep Yadav. Pant will return to Delhi Capitals after moving from Lucknow Super Giants, where he spent two seasons.

The wicketkeeper-batter's revised fee stands at ₹15 crore, considerably lower than the ₹27 crore Lucknow paid to acquire him at the 2025 mega-auction.

Kuldeep, meanwhile, will join LSG from Delhi at his existing fee of ₹13.50 crore. His arrival gives Lucknow an experienced Indian spin-bowling option for the 2027 campaign.

🚨 Hardik Pandya will join Punjab Kings at a fee of INR 18 crore, up from his existing fee of INR 16.35 crore.

Arshdeep Singh will join Mumbai Indians at his existing fee of ₹18 crore.

Which team stands to benefit more from this trade - MI or PBKS? 🧐 pic.twitter.com/66gEgqZIbr

— Cricbuzz (@cricbuzz) November 11, 2026

CSK and SRH complete four-player exchange

Chennai Super Kings (CSK) and Sunrisers Hyderabad (SRH) have also reshaped their squads through a four-player trade.

English all-rounder Liam Livingstone and Australian all-rounder Jack Edwards are moving from Hyderabad to Chennai. In return, left-arm pacer Khaleel Ahmed and Australian fast bowler Nathan Ellis will join SRH. Separately, T Natarajan returns to Sunrisers Hyderabad from Delhi Capitals, while leg-spinner Zeeshan Ansari moves from SRH to Delhi.

IPL 2027 mini-auction: What happens next?

The franchises now face the next stage of squad planning ahead of the December mini-auction. Teams must submit their retention and release lists by November 17, while the auction is scheduled for December 16 in Goa.

These trades give franchises an opportunity to address specific squad requirements before entering the bidding process. With several established players already changing teams, the IPL 2027 auction is expected to be an important stage in determining the final combinations for the new season.