Ahmedabad-based business conglomerate Torrent Group is on the verge of securing a 67% majority stake in the Gujarat Titans (GT), the 2022 IPL champions. The stake is currently owned by CVC Capital Partners (Irelia Company Pte Ltd), who initially acquired the franchise in 2021.
According to the Espncricinfo report, the final transaction details, including the valuation of the stake being sold, are still under review. The IPL governing council is currently processing the necessary paperwork, and if all approvals go through, Torrent Group is expected to take charge ahead of the 2025 IPL season, which begins on March 21.
Ahmedabad-based Torrent Group is set to acquire 67% of Gujarat Titans for ₹7,500 crore ($856M), pending BCCI approval.
— Ragav (@ragav_x) February 11, 2025
This would make GT the most expensive IPL franchise to be sold, surpassing LSG's ₹7,090 crore purchase price in 2021. pic.twitter.com/UeVYwMi69Q
Who is Torrent Group ?
Torrent Group, valued at ₹ 41,000 crore, operates across multiple industries, with Torrent Power and Torrent Pharmaceuticals being its leading subsidiaries. It is reported that Jinal Mehta, son of Sudhir Mehta, chairman emeritus of Torrent Group, will oversee the IPL investment.
Interestingly, Torrent Group had previously attempted to enter the IPL in 2021, when the BCCI held an auction to expand the league from eight to ten teams. Torrent had placed bids for Ahmedabad (₹4653 crore) and Lucknow (₹4356 crore) but lost out to CVC Capital and RPSG Group (Lucknow Super Giants’ owners). The company also attempted to secure a franchise in the Women’s Premier League (WPL) in 2023 but was unsuccessful.
About CVC Capital Partners
CVC had originally purchased Gujarat Titans for ₹5625 crore (approximately $750 million). The GT investment was CVC's first successful foray into cricket. The global fund manager, which has offices across the globe, had previously bid for Delhi Capitals in 2018 after GMR Group divested stake in the franchise, which eventually was bought by Jindal South West (JSW) for ₹550 crore approx. at the time.
The team made a remarkable debut by winning the IPL in 2022, finishing as runners-up in 2023, and securing eighth place in 2024. The Titans play their home games at Narendra Modi Stadium, the world's largest cricket stadium with a capacity of over 100,000 spectators.