Ahmedabad-based Indian business conglomerate Torrent Group is all set to buy majority stakes of 2022 IPL winner Gujarat Titans. According to an ESPNcricinfo report, Torrent Group is expected to take over 67% stakes in the Gujarat Titans. Torrent is taking over stakes from CVC Capital Partners (Irelia Company Pte Ltd), the initial buyers of Gujarat Titans.
Currently, the IPL governing council is processing the paperwork to give a final green flag to the deal. However, the valuation of the stakes has not yet been confirmed by CVC Capitals Partners. If the deal is finalized before the start of the IPL 2025 (March 21), the new owner can be seen withstanding in the team dugout with support staff.
CVC Capitals Partners paid INR 5625 crore (US$ 750 million approx.) in 2021 to buy GT, which was their first successful bid in franchise cricket. Before this deal, the global private equity fund manager had bid for Delhi Capitals in 2018 but eventually lost the bid to Jindal South West (JSW) at that time.
Torrent is one of the top multinational companies in India with a valuation of about INR 41,000 crore, and this isn’t their first investment attempt in cricket either. In 2023, the Torrent Group unsuccessfully bid for the three cities out of the listed ten for the Women’s Premier League.
Jinal Mehta, the son of the Torrent Group chairman emeritus Sudhir Mehta, is expected to oversee this IPL investment.
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