Torrent Group all set to buy majority stake in Gujarat Titans with new owners likely to be involved from IPL 2025.
Torrent Group, an Indian business conglomerate with headquarters in Ahmedabad, is set to buy a majority stake in 2022 IPL champions Gujarat Titans.
CVC Capital Partners (Irelia Company Pte Ltd), who acquired the franchise in 2021, will sell a 67% share in GT to Torrent.
Additional information, such as the value of the share that CVC sold, could not yet be verified. Before the league’s governing council gives its final approval, it is understood that the IPL is processing the necessary documentation. The 2025 season, which begins on March 21, is probably when GT’s new owners could get involved, pending final approval.
GT, who won the IPL in their debut season (2022), advanced to the final the following year (2023), and placed eighth in 2024, was purchased by CVC, a global private equity group, for INR 5625 crore (about US$750 million) in 2021. The Narendra Modi Stadium, the biggest cricket stadium in the world with a capacity of over 100,000, serves as GT’s home field.
In 2021, the BCCI held a walk-in auction to add two more franchises to the original eight, and Torrent Sports Ventures Private Limited, a subsidiary of Torrent Group, was one of the final nine bidders.
Then, the bidders had the option to bid for six cities, including Indore, Dharamsala, Guwahati, Cuttack, and Ahmedabad and Lucknow, which ultimately won.
According to the company’s website, Torrent Group is valued at approximately INR 41,000 crore and is one of the leading multinational corporations in India, led by two well-known subsidiaries: Torrent Power and Torrent Pharma. It is believed that Jinal Mehta, the son of Torrent Group chairman emeritus Sudhir Mehta, will be in charge of the IPL investment.
CVC made its first successful cricket investment with the GT deal. After GMR Group sold its interest in the franchise, the international investment manager, which has offices all over the world, made a bid for Delhi Capitals in 2018. Jindal South West (JSW) subsequently purchased the team for about INR 550 crore at that time.
In addition to Afghanistan spinner Rashid Khan, England white-ball captain Jos Buttler, and India fast bowler Mohammed Siraj, GT is captained by India batsman Shubman Gill.