South Africa-born Jacobs moved from Canterbury to join the Auckland Aces this season.
The 22-year-old has played just nine Twenty20s in the Super Smash, scoring 134 runs at an average of 33.50 for Canterbury last summer and told RNZ he was thrilled to have made the cut.
“It was definitely a long shot. I woke up this morning with the big surprise and it was a surprise, it was awesome to see and I think it’s just been a bit overwhelming,” Jacobs said.
“I’m looking forward to to the opportunity and I’m very grateful for it.”
IPL game time may be hard to come by for the uncapped Kiwi, but rubbing shoulders with the likes of Indian stars Jasprit Bumrah, Rohit Sharma, Hardik Pandya, Suryakumar Yadav at Mumbai along with fellow Kiwis Santner and Trent Boult will be invaluable.
“It’s just a massive opportunity. If I get game time that’s definitely a bonus. But just going over there and being able to learn as much as I can from the best in the world, that’s probably the main takeaway for me. Just seeing how much I can absorb while I’m over there.”
For now, Jacobs told RNZ his focus remains on the Aces with the IPL due to begin in March.
“Knowing that it (IPL) is a few months away I’m just keeping my head down a bit and I know that I’ve got to look at what’s in front of me and that’s still trying to put my best foot forward for Auckland.”
Black Caps Devon Conway, Indian fan favourite Rachin Ravindra, and Boult were snapped up on the first night.
Boult was the most expensive of the Kiwis, joining the Mumbai Indians for 125m rupees ($2.537m). Conway followed, being picked up by the Chennai Super Kings for 62.5m rupees ($1.268m). Meanwhile, young star Ravindra will also head to the Super Kings after being bought for 40m rupees ($811,882).
13-year-old sold at IPL auction
Indian teen Vaibhav Suryavanshi became the youngest ever to be sold at the auction.
The 13-year-old left hand batter and spinner was picked up by the Rajasthan Royals for $223,195.
Suryavanshi was born the week India won the 2011 World Cup final.
Kiwis sold on day two of IPL auction
Glenn Phillips - Gujarat Titans NZ$488,000
Mitchell Santner - Mumbai Indians $488,000
Lockie Ferguson - Punjab Kings $488,000
Bevon-John Jacobs - Mumbai Indians $60,946.80
Unsold
Kane Williamson
Daryl Mitchell
Finn Allen
Tom Latham
Michael Bracewell
Adam Milne
Will O’Rourke
Nathan Smith
Kyle Jamieson
Tim Seifert
Mark Chapman
Matt Henry
Will Young
Jimmy Neesham
Ben Sears