Torrent Group to acquire majority stake in IPL's Gujarat Titans
What's the story
The Ahmedabad-based Torrent Group, a leading Indian business conglomerate, is set to acquire a majority stake in 2022 IPL champions, Gujarat Titans (GT). According to ESPNcricinfo, the deal sees Torrent buying a 67% stake from CVC Capital Partners (Irelia Company Pte Ltd), who had purchased the franchise in 2021. The precise valuation of the deal has not been revealed yet.
Approval procedure
IPL's approval process for Torrent Group's acquisition
Meanwhile, the Indian Premier League (IPL) is working on the paperwork for this deal. The final approval is awaited from the league's governing council. If approved, the new owners could be on board from the 2025 season, which starts on March 21. CVC Capital Partners had earlier paid ₹5,625 crore (approximately $750 million) in 2021 to buy GT.
Team performance
Gujarat Titans's performance and Torrent Group's bidding history
Gujarat Titans have had an illustrious IPL journey, having won the championship in their debut season (2022), reached the final in 2023, and finished eighth in 2024. The team plays at the Narendra Modi Stadium, which accommodates over 100,000 spectators. Notably, Torrent Group's subsidiary was one of the final nine bidders at a BCCI auction in 2021 to add two new franchises to the original eight.
Past bids
Torrent Group's previous bids and future IPL investment
Torrent Group had earlier bid for Ahmedabad (₹4,653 crore) and Lucknow (₹4,356 crore) in the 2021 auction. In 2023, they unsuccessfully bid for three of the 10 cities put up by BCCI to kickstart the five-team WPL. Valued at around ₹41,000 crore, the company is among India's top multinationals with major subsidiaries such as Torrent Power and Torrent Pharma. Torrent Group chairman emeritus Sudhir Mehta's son Jinal Mehta is likely to lead this IPL investment.