Torrent Group Targets Majority Stake in Gujarat Titans

The Torrent Group, an Indian business conglomerate, is set to acquire a 67% stake in the former IPL champions, Gujarat Titans. This move marks a significant change in the ownership of the franchise, which was initially acquired by CVC Capital Partners under Irelia Company Pvt. in 2021. Torrent Group’s acquisition is pending final approval from the IPL governing council.

The Gujarat Titans have quickly established themselves in the Indian Premier League. In 2022, under the captaincy of Hardik Pandya, they captured the IPL title. Despite a stellar 2022, the team faced mixed results in subsequent seasons, finishing as runners-up in 2023 and securing eighth place the following season. Key players in the squad include prominent names such as Shubman Gill, Rashid Khan, Jos Buttler, and Mohammed Siraj.

Torrent Group has a strong presence in the pharmaceutical sector and is headquartered in Ahmedabad. The acquisition deal reflects the company’s expanding interest in the sports industry. In the past, Torrent Sports Ventures Pvt., a subsidiary of Torrent Group, was involved in bids for the Ahmedabad and Lucknow franchises in 2021 and also attempted to enter the Women’s Premier League.

CVC Capital Partners invested Rs 5,625 crore to purchase the Titans in 2021, with a lock-in period that expires in February 2025. This period restricted any sale of stakes before its completion, allowing CVC Capital Partners to focus on establishing the team’s identity and performance. With a valuation of approximately Rs 41,000 crore, Torrent Group aims to bring new impetus and strategic planning to the franchise.

The upcoming IPL season, which begins on March 21, will be closely watched, as the anticipated stake transfer could significantly impact Gujarat Titans’ operations and strategies. As the cricket community awaits the final decision of the IPL governing council, Torrent Group prepares to potentially leave its mark on one of India’s most prestigious cricket franchises.