Torrent Group, an Indian enterprise conglomerate with headquarters in Ahmedabad, is about to purchase a majority stake in 2022 IPL champions Gujarat Titans (GT). ESPNcricinfo has realized that Torrent will purchase a 67% stake in GT from CVC Capital Companions (Irelia Firm Pte Ltd), who purchased the franchise in 2021.
In the meanwhile, additional particulars, together with the valuation of the stake divested by CVC, couldn’t be confirmed. It’s understood the IPL is processing the paperwork earlier than a ultimate nod is given by the league’s governing council. Topic to the ultimate approval, GT’s new homeowners might doubtless be concerned from the 2025 season, which begins on March 21.
CVC, a worldwide personal fairness fund, had paid INR 5625 crore (US$ 750 million approx.) in 2021 to purchase GT, who received the IPL of their first season (2022), made the ultimate the next yr (2023) and completed eighth in 2024. GT’s dwelling base is the Narendra Modi Stadium, the world’s largest cricket stadium with a capability of over 100,000.
The bidders then might bid for six cities, which included Indore, Dharamsala, Guwahati and Cuttack together with Ahmedabad and Lucknow, the eventual winners. Torrent bid for Ahmedabad (INR 4653 cr) and Lucknow (INR 4356 cr). In 2023, Torrent bid unsuccessfully for 3 of the ten cities put up for bidding by the BCCI to begin the five-team WPL.
As per the corporate’s web site, Torrent Group has a valuation of about INR 41,000 crore and is amongst one of many high multinational corporations in India, spearheaded by two outstanding subsidiaries: Torrent Energy and Torrent Pharma. It’s understood that Jinal Mehta, the son of the Torrent Group chairman emeritus Sudhir Mehta, will oversee the IPL funding.
GT are led by India batter Shubman Gill and now have Afghanistan spinner Rashid Khan, England white-ball captain Jos Buttler and India quick bowler Mohammed Siraj amongst others.
