Kings XI Punjab throw up major surprise by retaining Punjab's 20-year-old batsman Manan Vohra, along with South Africa's David Miller.
Kolkata Knight Riders retain only Gautam Gambhir and mystery spinner Sunil Narine.
Delhi Daredevils have decided against retention of their existing players going into the auction for the seventh edition of the Indian Premier League.
The team management, explaining the decision, said: "It was the unanimous decision of the management with the focus of building a fresh team that the fans would be proud of."
Earlier in the day there was talk that Kevin Pietersen and David Warner would be retained, while ignoring former captains Virender Sehwag and Mahela Jayawardene.
Sehwag being cold shouldered was on expected lines after he was axed from the Indian Test and ODI teams last year following a run of poor scores.
He also struggled for Delhi in this season's Ranji Trophy, scoring a meagre 234 runs in seven matches, at an average of 19 and a best of 56.
Kolkata Knight Riders, meanwhile, decided to retain only two players, including captain Gautam Gambhir and West Indies mystery spinner Sunil Narine.
The 2012 IPL champions chose not to retain their top international players like Jacques Kallis, Brendon McCullum, Yusuf Pathan and Mohamed Shami.
"Delighted 2 retain @GautamGambhir & @SunilPNarine74. Rules made it V tough 2 retain more. Big thnx 2 team KKR who made us proud in 11/12/13," KKR CEO Venky Mysore wrote on Twitter.
"Very very happy to be retained by @KKRiders. I love the KKR family. I hope to keep repaying the faith shown in me," Narine wrote on the social network.
Kings XI Punjab threw up a major surprise by retaining Punjab's 20-year-old batsman Manan Vohra along with South African David Miller.
While Miller sparkled last year with the bat for Punjab last season with quite a few quickfire innings, Vohra's retention is rather surprising as he has only played six first class matches and 12 T20 games.
Image: Gautam Gambhir