Chennai Super Kings' ownership remains unaffected by India Cements sale
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.