41000 Crore Indian Multinational Company All Set To Acquire Majority Stake In Gujarat Titans

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2022 Indian Premier League (IPL) champions Gujarat Titans are set to change hands, with Indian business conglomerate Torrent Group poised to acquire a 67% stake in the franchise.

The Ahmedabad-based company is in advanced talks to buy the majority share from CVC Capital Partners (Irelia Company Pvt Ltd), who originally secured ownership of the team in 2021.

The deal, however, is subject to final approval from the IPL governing council, which is expected before the upcoming IPL 2025 season, set to begin on March 21.

A source close to the IPL developments, speaking to PTI, confirmed the progress of the deal. "The talks of Torrent Group taking two third ownership (67 per cent) is at an advanced stage. The lock-in period for CVC group as sole owners ends in February 2025 after which they are free to sell the stakes," the source revealed.

The Torrent Group, a major player in India's pharmaceutical industry, had previously expressed interest in IPL franchises. The source further stated, "Torrent group is one of the biggest names in Pharmaceutical sector in India and in 2021 when BCCI invited bids for two new teams, they had shown active interest. Obviously, any change in ownership pattern requires approval from BCCI which is expected to be given in coming days."

Although the exact valuation of the deal remains undisclosed, CVC Capital Partners had acquired the Gujarat-based franchise for ₹5,625 crore in 2021. The Titans made an instant impact in their debut season, winning the IPL 2022 title under Hardik Pandya's leadership and finishing runners-up in 2023. However, the Shubman Gill-led side struggled last season, ending the campaign in eighth place.

The team's core features some of the biggest names in world cricket, including Afghanistan's Rashid Khan, England's white-ball captain Jos Buttler, and India pacer Mohammed Siraj.

Torrent Group, valued at approximately ₹41,000 crore, has been actively exploring opportunities in cricket. Through its subsidiary, Torrent Sports Ventures Private Limited, it had previously bid for the Ahmedabad (₹4,653 crore) and Lucknow (₹4,356 crore) franchises when the BCCI expanded the IPL in 2021.

Additionally, the company made an unsuccessful attempt to acquire one of the three Women's Premier League (WPL) teams during the league's inaugural season.

With BCCI's final approval expected soon, Torrent Group is set to make a major foray into the IPL, marking a significant shift in the ownership landscape of Gujarat Titans.