Siraz (4/32 in 4 overs) and Rashid (3/34 in 4 overs) were brilliant in the back-10 as Lions were down in the dumps after a 111-run opening stand between Ishan Kishan (61 off 40 balls) and Dwayne Smith (54 off 33 balls).
Bhuvneshwar Kumar (2/25) and Siddharth Kaul (1/30) polished off the tail.
But in a baffling collapse, Lions lost all 10 wickets for an addition 49 runs in the last 10 overs after a whopping 105 in the front 10.
Anything short on his pads was pulled imperiously. Smith on his part also hit a couple of sixes off Mohammed Nabi and Rashid Khan.
The opening stand raised visions of a big total but a Rashid flipper saw Smith wrapped on the pads going for a pull-shot only to be adjudged leg-before.
Kishan top-edged an ambitious pull-shot off a Siraz delivery only to be pouched by Naman Ojha.
The mini-slump turned out to be decisive as only Ravindra Jadeja (20 no, 14 balls), remained stranded on one end.
The now famous googly from Rashid accounted for Aaron Finch (2) while James Faulkner and Pradeep Sangwan were cleaned up by Siraz.
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