Bollywood actress Shilpa Shetty [Images] and her business partner Raj Kundra on Tuesday bought a 12 per cent stake in the Indian Premier League [Images] team Rajasthan Royals [Images], the inaugural champions of the Twenty20 [Images] event.

Shetty and Kundra, a UK-based entrepreneur, are reportedly set to invest $ 15.4 million in the team, which is led by Australian spin legend Shane Warne [Images] and has international stars like South African skipper Graeme Smith [Images] and Aussie all-rounder Shane Watson [Images] in its fold.

"They have bought an approximately 12 per cent stake in the team," Rajasthan Royals owner Manoj Badale told reporters in Mumbai [Images].

Shetty thus becomes the third Bollywood star after Shah Rukh Khan [Images] and Preity Zinta [Images] to buy a stake in IPL teams.

While Shah Rukh owns Kolkata Knight Riders [Images], Preity has a stake in Kings XI Punjab [Images], the semi-finalists last year.

Shetty said she would have a role in the team's promotional activities this year. "I will be promoting the team. Perhaps a music video will also come," she quipped.