Torrent Group, a significant player in the Indian business landscape with its headquarters in Ahmedabad, is poised to acquire a substantial majority stake in the Gujarat Titans, the champions of the IPL in 2022. Reliable sources from ESPNcricinfo have confirmed that Torrent Group is set to procure a 67% stake in the franchise from CVC Capital Partners, who initially acquired the team in 2021. At this moment, the specifics regarding the valuation of the stake being sold by CVC remain unconfirmed. The Indian Premier League is currently in the process of managing the required documentation before granting final approval from its governing council.
Pending formal approval, it is anticipated that the new ownership group will begin their involvement with the Gujarat Titans from the start of the 2025 season, which is scheduled to commence on March 21. CVC Capital Partners, a prominent global private equity fund, previously invested INR 5625 crores (approximately USD 750 million) in 2021 to gain ownership of the Gujarat Titans. Under CVC’s ownership, the franchise made a remarkable impact on the IPL, clinching the championship in their inaugural season and reaching the finals the following year. However, the team's performance dipped in 2024, where they finished in the eighth position. The Gujarat Titans play their home games at the Narendra Modi Stadium, which boasts the title of the world's largest cricket stadium, accommodating over 100,000 spectators.
Interestingly, Torrent Group's subsidiary, Torrent Sports Ventures Private Limited, was one of the last nine contenders in the 2021 bidding process conducted by the Board of Control for Cricket in India (BCCI) to introduce two new teams alongside the original eight franchises. During that auction, bidders had the opportunity to compete for six cities, including Ahmedabad, which won alongside Lucknow. Torrent placed bids of INR 4653 crore for Ahmedabad and INR 4356 crore for Lucknow. In 2023, Torrent attempted but failed to secure a stake in three of the ten cities that were offered by the BCCI to initiate the five-team Women's Premier League.
According to the company’s official website, Torrent Group has an estimated valuation of approximately INR 41,000 crores, positioning itself as one of the leading multinational corporations across India. This conglomerate operates primarily through two major subsidiaries: Torrent Power, which is involved in energy production and distribution, and Torrent Pharma, a pharmaceutical leader. Reports suggest that Jinal Mehta, the son of the company's chairman emeritus Sudhir Mehta, will manage the investments related to the IPL.
The Gujarat Titans investment marks CVC Capital Partners' inaugural successful venture into the cricket domain. The global asset management firm, which maintains offices worldwide, had previously shown interest in purchasing the Delhi Capitals in 2018 after the GMR Group divested its stake in the franchise. Ultimately, the Delhi Capitals were acquired by Jindal South West for approximately INR 550 crore at the time.
The Gujarat Titans boast a series of distinguished players, including star batter Shubman Gill, the Afghan spin sensation Rashid Khan, the England white-ball captain Jos Buttler, and the Indian pace bowler Mohammed Siraj, to name a few. This diverse roster exemplifies a blend of domestic and international talent, contributing to the franchise's competitive edge in the IPL.
In conclusion, this forthcoming acquisition by Torrent Group represents a significant development in the IPL ecosystem, potentially reshaping the dynamics of ownership and investment within the franchise landscape. The transition, subject to the approval from the IPL governing council, could herald a new era for the Gujarat Titans as they look to build on their previous successes and fortify their position in the increasingly competitive cricket arena. With substantial backing from a well-established conglomerate, fans and analysts alike will be keen to observe how the Titans navigate the challenges of future seasons and strive for excellence in India's premier cricket league.