Abhishek was also cheered by his upcoming movie All Is Well co-stars Rishi Kapoor, Asin and Supriya Pathak.
Big B began the proceedings by singing the National Anthem at Sardar Patel Stadium, NSCI and said he was "honoured" to have done so.
The 72-year-old actor expressed his feelings on Facebook:
The opening encounter was between defending champions Jaipur Pink Panthers, owned by Abhishek, and last year's runners-up U Mumba which is owned by Ronnie Screwvala.
The Piku actor thanked Aamir, Riteish and his wife Genelia for attending the ceremony, on Facebook.
Mr Bachchan also took to Twitter to share pictures where he is sporting his three Padma Medals.
T 1934 - The first time ever I wear my Padma medals .. all 3 .. and then switch to cheering Jaipur .. pic.twitter.com/ruwRlin1Rw— Amitabh Bachchan (@SrBachchan) July 18, 2015