The teams will be based on the idea of North & East vs South & West.
As per the reports from ESPNCricinfo.com, the two teams for the all-star match are likely to be formed with players from the four franchises in the north and east of India - Kings XI Punjab, Delhi Capitals, Rajasthan Royals and Kolkata Knight Riders.
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And the four teams in the south and west - Chennai Super Kings, Royal Challengers Bangalore, Sunrisers Hyderabad, and Mumbai. No venue has been finalized for the match as of now.
BCCI president Sourav Ganguly and IPL governing council chairman Brijesh Patel put forth the idea of this all-star game and the decision was finalized at the governing council meeting on Monday in New Delhi.
This means MS Dhoni and Rohit Sharma- two captains with a total of seven IPL titles and Virat Kohli will play in the same team representing the South and West.
Meanwhile, both the opening match and the IPL final will be played in Mumbai, the home base of defending champions Mumbai Indians.
(ESPNCricinfo.com inputs)