You can watch IPL 2012 live online for free through SET MAX live streaming. IPL 2012 begins on 4 April 2012 and ends on 27 May with grand finale. Through the link given here, you can watch every single match of IPL 5 online for free..
4 April 2012, Chennai Super Kings Vs Mumbai Indians match live online from Chennai between 8 PM and 12 – Link
5 April 2012, Kolkata Knight Riders Vs Delhi Daredevils match live online from Kolkata between 8 PM and 12 – Link
6 April 2012, Mumbai Indians vs Pune Warriors India match live online from Mumbai between 4 PM and 8 PM – Link