Torrent Group buys 67% stake in IPL team Gujarat Titans

Torrent Group buys 67% stake in IPL team Gujarat Titans

Torrent Group buys 67% stake in IPL team Gujarat Titans ByHT Correspondent Feb 12, 2025 07:59 PM IST Share Via Copy Link Torrent Group said the strategic partnership was he first of its kind in India’s sports sector and would unlock opportunities for growth and collaboration

Healthcare and energy conglomerate Torrent Group on Wednesday announced an agreement to acquire 67% stake in Indian Premier League (IPL) franchise, Gujarat Titans from Irelia Company Pte Ltd for an undisclosed amount.

Torrent Group said it has, “through its holding company Torrent Investments Private Limited (TIPL) has entered into a definitive agreement to acquire a majority stake of 67 per cent” in Gujarat Titans (X/Torrent_Group)

Torrent Group “through its holding company Torrent Investments Private Limited (TIPL) has entered into a definitive agreement to acquire a majority stake of 67 per cent in the renowned Indian Premier League (IPL) franchise, Gujarat Titans,” it said in a statement.

Irelia Company Pte Ltd, which is currently owned by funds managed or advised by CVC, will retain a substantial minority stake of 33% in the franchise as part of the deal, the Torrent Group said in a statement

The transaction is subject to customary closing conditions and approvals (including from BCCI), it said.

This strategic partnership between one of India’s leading business groups and a globally renowned private equity firm, is the first of its kind in India’s sports sector and will unlock exciting opportunities for growth and collaboration, the company said in a statement.

Jinal Mehta, director, Torrent Group, said, “It is a matter of great pride for us to welcome Gujarat Titans and millions of its passionate fans into the Torrent Group. As sports continues to gain prominence in India, Torrent sees great potential in this rapidly growing sector. With the acquisition of a majority stake in the Gujarat Titans, we are excited to have the opportunity to elevate our fan experience and unlock new growth avenues in the years to come. We are committed to nurturing the Gujarat Titans team and creating a lasting legacy for everyone involved – our fanbase, the players and our employees”.

Siddharth Patel, managing partner at CVC, said: “We are excited to announce this deal, which marks the beginning of a new chapter in India’s most popular sporting event and our team Gujarat Titans. Our participation in Indian Cricket started strongly, securing the Gujarat franchise, winning the IPL title in our first season and emerging as runners up in our second season.”

Founded in 2022, Gujarat Titans is one of the youngest cricket franchises in the IPL. Gujarat Titans, based in Ahmedabad, is led by Shubman Gill and coached by Ashish Nehra. The Titans won their inaugural 2022 season of Tata IPL, becoming only the second team in the history to do so.

Nick Clarry, managing partner at CVC, said, “CVC has a long history of investment in sports since our investments in Moto GP and Formula One, and we are extremely proud of how this investment in Gujarat Titans has developed.”