Torrent Group (“Torrent”), a diversified conglomerate with interests in Healthcare and Energy sectors, has completed its acquisition of 67% majority stake in Gujarat Titans from Irelia Company Pte Ltd (CVC Capital Partners) following approval of the Board of Control for Cricket in India (BCCI).
Following the transaction, Irelia - managed by funds advised by CVC - will continue to hold substantial minority stake of 33%, maintaining its association with the Gujarat-based franchise.
Per Cricbuzz, the sale was completed at an enterprise valuation of Rs 7522 crore ($867.5 million), meaning Torrent bought the 67% stake for Rs 5035 crore.
Torrent and Irelia had previously announced the signing of definitive agreements for this transaction, subject to customary closing conditions and approvals.
As per the IPL franchise agreement, the BCCI is entitled to 5% of every transaction conducted within the ownership group.
The Titans were introduced as a team in the IPL 2022 season along with Lucknow Super Giants. CVC bought the Ahmedabad franchise, bidding Rs 5625 crore.
GT won the IPL title competing in its first-ever season. It reached the final in the 2023 season and finished eighth in IPL 2024.
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