Torrent Group Acquires Majority Stake in Gujarat Titans

Torrent Group Enters the Sports Sector

In a major move before the new T20 cricket league season, Ahmedabad’s Torrent Group has acquired a 67% stake in the IPL franchise Gujarat Titans. The company announced this on Monday, as reported by PTI.

Acquisition Specifics

• Torrent Group bought 67% of Gujarat Titans (Irelia Sports India Pvt Ltd) from Irelia Company Pte Ltd, a private equity fund CVC fully owns.
• The acquisition received all necessary approvals, including from the Board of Control for Cricket in India (BCCI).
• Irelia, managed by funds advised by CVC, will retain a 33% stake in the franchise.

Undisclosed Financial Details

The company did not reveal the deal’s financial details. However, Torrent announced the signing of definitive agreements for the deal on 12 February.

About IPL

The IPL currently has 10 teams, each named after a different city or region in the country. These teams are owned by large Indian conglomerates, multinational companies, family offices of leading ultra-HNIs, and private equity investors. CVC Capital Partners acquired the Gujarat Titans franchise for ₹5,600 crore in 2021, making it the second team to win the IPL in their first season.

Torrent’s Support for the Sports Ecosystem

The acquisition highlights Torrent’s commitment to diversifying its business interests while supporting India’s thriving sports ecosystem. The Gujarat Titans will now benefit from Torrent’s expertise in building and managing large-scale businesses, focusing on strengthening team operations, fan engagement, and commercial growth.

Other IPL Team Owners

• Mumbai Indians: Mukesh Ambani’s Reliance
• Chennai Super Kings: N Srinivasan and family of India Cements fame
• Lucknow Super Giants: Sanjiv Goenka’s RPSG Group
• Delhi Capitals: Joint venture of GRM Group Entities and JSW Group (50% each)
• Sunrisers Hyderabad: Sun Group
• Royal Challengers Bangalore: United Spirits Ltd
• Punjab Kings: Mohit Burman (Dabur) (48%), Ness Wadia (Wadia Group) 23%, Preity Zinta (23%), and Karan Paul (Apeejay Surrendra Group) (6%)
• Kolkata Knight Riders: Superstar Shahrukh Khan and his wife Gauri Khan’s Gauri Khan Family Trust (55%) and Juhi Chawla and Jay Mehta’s Mehta Group (45%)

The upcoming IPL season starts on March 22.