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Chennai Super Kings' ownership remains unaffected by India Cements sale
CSK was established as a division of India Cements in 2008

Chennai Super Kings' ownership remains unaffected by India Cements sale

Jul 28, 2024
05:18 pm

What's the story

The IPL cricket team, Chennai Super Kings, will maintain its ownership structure despite the sale of India Cements to UltraTech Cement, a subsidiary of Aditya Birla Group. CSK was established as a division of India Cements in 2008 and became an independent entity in 2015, when India Cements sold its entire shareholding to a trust. The controlling shareholding of CSK is currently held by N. Srinivasan and his family at 28.14%.

Acquisition details

UltraTech Cement acquires majority stake in India Cements

UltraTech Cement has announced the acquisition of a 32.72% stake in India Cements from its promoters and their associates, following an initial purchase of a 22.77% stake in June. The latest transaction, valued at ₹3,954 crore at ₹390 per share, will increase UltraTech's ownership in India Cements to 55.49%. This move comes despite the reduction of the India Cements Shareholders Trust's stake to 1.76% from over 30% last year.

Promoters

CSK's promoters and their shareholding structure

CSK's latest annual report lists seven names as promoters. EWS Finance and Investments holds the largest share at 21.47%, followed by Rupa Gurunath, trustee of the Financial Services Trust and Securities Services Trust, with a 6.48% stake. N. Srinivasan holds a 0.14% stake while Chitra Srinivasan and S.K Ashok Baalaje each hold a 0.02% stake and Rajam Krishnamurthy owns 1,940 shares.

Team performance

Team's success over the years

CSK is one of the most successful franchises in the IPL, with five titles, a record 10 finals appearances, and 12 playoff qualifications in their 15 seasons. The team also won the Champions League Twenty20 trophy twice, in 2010 and 2014.