Among the venues where the teams could be based include Ahmedabad, Lucknow and Pune.
The South African pace legend, who announces his retirement yesterday, also hailed Sachin Tendulkar and Ricky Ponting for their 'amazing' batting.
The 25-year-old said the quality of domestic players has improved in the men's game since the advent of the Twenty20 league and the same could be the case for women's cricket.
He is set to play in the United States of America.
The 26-year-old Iyer sustained a horrifying shoulder dislocation during a one-dayer against England in Pune on March 23 and had to undergo a surgery in the UK.
Kundra is a former co-owner of IPL side Rajasthan Royals. Rahane has led Royals in the past.
Chasing 263, Shaw got India off to a flier. His 24-ball knock was studded with nine boundaries.
The domestic season will commence on September 21 with the Senior Women's One-Day League.
The West Indian pace legend also said that while safety is important, it is important to not turn cricket into a soft-ball competition.
Emerging Media and RedBird, which is founded by former Goldman Sachs Partner Gerry Cardinale, announced the stake acquisition in a joint statement on Thursday but did not disclose financial details of the transaction.