Healthcare and energy conglomerate Torrent Group has made its debut in the sports sector by acquiring a majority stake in the Indian Premier League (IPL) franchise, Gujarat Titans. The Ahmedabad-based company has secured a 67% stake in the team, though the financial details of the deal have not been disclosed.
In an official statement, Torrent Group confirmed that its holding company, Torrent Investments Private Limited (TIPL), has signed a definitive agreement to acquire the stake from Irelia Company Pte Ltd, a company fully owned by funds managed or advised by CVC.
The transaction is subject to customary closing conditions and regulatory approvals, including clearance from the Board of Control for Cricket in India (BCCI).
Despite the change in ownership, Irelia will retain a 33% minority stake in Gujarat Titans. The acquisition marks a significant move for Torrent Group into India’s rapidly growing sports industry, particularly in cricket, one of the country’s most popular sports.
Jinal Mehta, Director of Torrent Group, expressed excitement over the company’s entry into the sports industry. “As sports continues to gain prominence in India, Torrent sees immense potential in this fast-growing sector. With our majority stake in Gujarat Titans, we are excited to enhance the fan experience and explore new growth opportunities in the years ahead,” Mehta said.
Mehta also reaffirmed the company’s commitment to the future of the franchise, adding, “We aim to build a lasting legacy for our players, employees, and passionate fanbase. With our track record of excellence across multiple industries, we are confident in setting new benchmarks in the sports sector.”
Siddharth Patel, Managing Partner at CVC, reflected on the franchise’s journey during their ownership. “We entered Indian cricket with a strong start—securing the Gujarat franchise, winning the IPL title in our debut season, and finishing as runners-up in the second,” Patel said.
Nick Clarry, another Managing Partner at CVC, also spoke about the franchise’s evolution and CVC’s broader involvement in global sports investments.
“Our history in sports includes MotoGP and Formula One, and we are extremely proud of how Gujarat Titans have evolved. We deeply appreciate our fans, management team, players, and the BCCI, who have played a crucial role in making Gujarat Titans a leading franchise on and off the field. With Torrent’s support, we expect the team’s success to accelerate even further,” Clarry added.
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