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The concept of the Poonawalla Breeder's Multi-Million was taken up soon after the advent of the Magic Million and the Cartier Million in Australia & Ireland. Poonawalla Stud Farms, with the support of Indian breeders took this project on their shoulders and have nurtured the event ever since.

Initially the race was guaranteed for Rupees 1 Million. In its tenth year it crossed the 5 Million mark with the last few years’ stakes being boosted to just under 15 Million. The idea behind this project was to boost Indian thoroughbred racing and breeding as well as bring in a festive atmosphere much needed by the industry.

Since its inception, the race has been growing. For a while it was the richest race in the country and is now the richest juvenile race in the country, second only to the Indian Derby.

The race is usually held on the third Sunday of February each year at the Mahalakshmi racecourse in Mumbai.

It is a Group 1 produce race for three-year-olds, run over a distance of 1400 meters and it determines the "leading juvenile" in the country.

From the very beginning the Poonawalla Breeder's Multi-Million has been a huge-crowd puller, running close to the Indian Derby. A free contest to determine the first four-placed horses offers a grand prize of a car (the first in India), with consolation prizes being offered to numerous others.

To add to the festive ambience, the event offers abundant prizes and attractions. The best turned-out lady and gentleman are awarded special prizes.

The day caters to everyone - regular race-goers, first timers, professionals and amateurs. The guests of honour have included Bollywood stars, fashion models and the who's who of global racing.

The efforts infused by the Poonawalla family have not only made the day a very significant racing event but has also infused fun, fashion and fortune into the day's racing, making it the most glamorous event in the Indian racing calendar and creating a truly memorable atmosphere.