Torrent Group (“Torrent“), a diversified conglomerate with interests in healthcare and energy, has successfully completed the acquisition of a 67% majority stake in Gujarat Titans from Irelia Company Pte Ltd (CVC Capital Partners). The deal has received approval from the Board of Control for Cricket in India (BCCI).
With this transaction, Irelia—managed by funds advised by CVC—retains a 33% minority stake, ensuring its continued association with the franchise, as reported by PTI.
According to Cricbuzz, the sale was completed at an enterprise valuation of Rs 7522 crore ($867.5 million), with Torrent acquiring its stake for Rs 5035 crore. Previously, Torrent and Irelia had announced the signing of definitive agreements for the transaction, subject to customary approvals.
Under the IPL franchise agreement, BCCI receives 5% of every ownership transaction. CVC originally purchased the Ahmedabad-based franchise in 2021 for Rs 5625 crore.
Gujarat Titans made an immediate impact in the IPL, winning the title in its debut season in 2022. The team reached the final in 2023 before finishing eighth in IPL 2024.
“The Gujarat Titans, one of the youngest and most successful franchises in IPL history, will now benefit from Torrent’s extensive expertise in building and managing large-scale businesses. With a focus on strengthening team operations, fan engagement, and commercial growth, the acquisition sets the stage for an exciting future for the franchise,” Torrent stated.
The move marks Torrent Group’s entry into India’s rapidly expanding sports sector, adding to the growing corporate involvement in the IPL. The league, which features ten teams, includes franchises owned by major business entities such as Reliance Industries (Mumbai Indians), India Cements (Chennai Super Kings), RPSG Group (Lucknow Super Giants), and a joint venture of GMR Group and JSW Group (Delhi Capitals).
Other IPL franchise owners include Sun Group (Sunrisers Hyderabad), United Spirits Ltd (Royal Challengers Bangalore), and a consortium for Punjab Kings comprising Mohit Burman (Dabur) (48%), Ness Wadia (Wadia Group) (23%), Preity Zinta (23%), and Karan Paul (Apeejay Surrendra Group) (6%).
Kolkata Knight Riders is co-owned by superstar Shah Rukh Khan and his wife Gauri Khan’s Gauri Khan Family Trust (55%) along with Juhi Chawla and Jay Mehta’s Mehta Group (45%).
Name of Author: Cricexec Staff
