IPL V Players Auction will be held on Feb 4 in Bangalore

New Delhi: Top Indian players, including Ravindra Jadeja and VVS Laxman, will go under the hammer when the Players Auction for the fifth Indian Premier League is held in Bangalore on February 4.

Beside Jadeja and Laxman, many other Indian and foreign cricketers will be up for grabs when the proceedings begin at 11:00 am in the ITC Royal Gardenia Hotel.

Confirming the auction date and venue, IPL chairman Rajeev Shukla said: "Fans of the sport, based in India and elsewhere, will be following the happenings with a lot of interest. The auction sets the stage for what promises to be an absorbing fifth season of the tournament.

"The developments during the first trading window have given us an idea of the varied approaches that the teams have adopted for the forthcoming season. The Auction will give us a deeper insight into the same," he added.

The auction will be conducted by Richard Madley, a professional auctioneer from England who has conducted each of the previous IPL player auctions, and the proceedings will be broadcast live by IPL Indian broadcaster Sony Set Max.

The opening match of IPL 2012 will take place on April 4 in Chennai.