Ahmedabad-based Torrent Group has completed the acquisition of a 67% majority stake in Gujarat Titans, marking its entry into India’s flourishing sports sector. The deal which was announced on February 12 has got all the mandatory approvals, including from the Board of Control for Cricket in India (BCCI), and has now officially closed.
The stake was acquired from Irelia Company Pte Ltd, which was fully owned by private equity firm CVC Capital Partners. Despite the new deal, CVC will continue to hold a 33% minority stake and will maintain its stake in the franchise. However, financial details of the acquisition have been revealed.
Torrent forays make entry into sports sector
Torrent’s acquisition highlights its diversification strategy, as the conglomerate expands beyond its main businesses in power, pharmaceuticals, and gas distribution. The company has recently made investments in the diagnostic and electrical sectors and its market capitalization has grown at a 33% annual compound rate.
Gujarat Titans: The rising team in IPL
‘’The Gujarat Titans, one of the youngest and most successful franchises in IPL history will now gain from Torrent’s extensive expertise in building and handling large-scale businesses, ’’the company stated. Torrent plans to boost the franchise’s team operations, commercial growth, and fan engagement.
The IPL, one of the world’s most-watched sports events, continues to attract major corporate investments. Torrent has now joined the list of owners that includes Reliance Industries (Mumbai Indians), RPSG Group (Lucknow SuperGiants), and India Cements (Chennai Super Kings).
Gujarat Titans established in 2022 and made a stunning impact by bagging the IPL title in their debut season. It also finished as runners-up the following year. The team is headed by Shubman Gill and is coached by Ashish Nehra, and plays its home matches at Narendra Modi Stadium, the world’s largest cricket venue.
CVC Capital purchased the Gujarat Titans franchise for Rs 5,600 crore in 2021 and despite selling a majority stake, it continues to be invested in the team’s future.
The company mentioned, ‘’With the completion of this transaction, Torrent Group is all set to commence on an exciting journey with Gujarat Titans, further reinforcing the franchise’s position as a powerhouse in India and global cricket.’’
As the IPL 2025 season is all set to begin from March 22, Gujarat Titans under their new ownership are poised for an exciting future in India’s premier T20 league.
(With inputs from PTI)