At least eleven people have been killed and 33 injured in the accident, says the regional government chief Siddaramaiah at a press conference on Wednesday afternoon.
At least one of the victims is reported to be a child, writes The Times of India.
According to Siddaramaiah, the crowd at the Chinnaswamy stadium in Bangalore was "impossible to control".
No one expected such a large audience. The stadium has a capacity of 35,000 but 200,000-300,000 people came there, he says at the press conference.
An AFP photographer describes how people were pressed together when a sea of celebrating people filled the streets.
In pictures and video clips published in Indian media, a large gathering of people can be seen. When panic arises, some start climbing over others, while police try to hold back the crowds with the help of batons.
In other clips, people can be seen struggling to get out of the crowd with small and seemingly unconscious children in their arms.
Narendra Modi calls it a "heart-wrenching" accident and says that "in this tragic moment, my thoughts are with all those who have lost their loved ones", reports AFP.
Royal Challengers Bengaluru beat Punjab Kings in the final match of the cricket league IPL on Tuesday evening.
