Torrent Group to acquire 67% stake in IPL team Gujarat Titans

Gujarat Titans

Ahmedabad-based multinational conglomerate Torrent Group on February 12 announced that it has entered into a definitive agreement to acquire a majority stake of 67 percent in the IPL team Gujarat Titans. The team's owning company CVC Capital Partners (Irelia Company) is set to offload majority of its stake through the transaction.

Moneycontrol had exclusively reported in July last year that an ongoing internal restructuring process at CVC Capital Partners had prompted the French private equity firm to consider selling its stake in Gujarat Titans.

After the completion of the said transaction, CVC will retain 33 percent stake in the franchise. Notably, the transaction amount of the said deal is yet to be revealed. It is however subject to approvals from BCCI and other authorities.

Speaking about the acquisition, Torrent Group Director Jinal Mehta said, "It is a matter of great pride for us to welcome Gujarat Titans and millions of its passionate fans into the Torrent Group. As Sports continues to gain prominence in India, Torrent sees great potential in this rapidly growing sector. With the acquisition of a majority stake in the Gujarat Titans, we are excited to have the opportunity to elevate our fan experience and unlock new growth avenues in the years to come. We are committed to nurturing the Gujarat Titans team and creating a lasting legacy for everyone involved – our fanbase, the players and our employees. With a proven track-record of delivering high quality products and services across multiple sectors, Torrent is well-positioned to set new standards of excellence in the Sports industry through the acquisition of Gujarat Titans."

Gujarat Titans had won their inaugural IPL season in 2022, beating Rajasthan Royals in the final match. The Shubman Gill-led team came second in the 2023 season, after being defeated by Chennai Super Kings (CSK) in the final. It however finished eight in IPL 2024, which was won by Kolkata Knight Riders (KKR).