Healthcare and energy conglomerate Torrent Group on Wednesday announced the acquisition of a majority stake in IPL franchisee, Gujarat Titans, for an undisclosed sum, marking the Ahmedabad-based firm's foray into the sports sector. 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. The conglomerate is buying a majority stake in Gujarat Titans (Irelia Sports India Private Limited) from Irelia Company Pte Ltd currently fully owned by funds managed or advised by CVC. The transaction is subject to customary closing conditions and approvals (including from BCCI). As part of the deal, Irelia will retain a substantial minority stake of 33 per cent in the franchise. The acquisition marks Torrent Group's foray into India's rapidly growing sports sector. Speaking on the occasion