The Board of Control for Cricket in India (BCCi) has given consent for the Torrent group’s takeover of Gujarat Giants after acquiring majority stake of the franchise ahead of the IPL 2025 season.
Torrent’s has completed the purchase of 67 percent in Gujarat Titans and took the transfer of control from Irelia Sports India Private Limited (CVC Capital).
As per regulations, the transfer of ownership required approval from the BCCI, which is believed to have been obtained a few days ago. CVC will retain a minority stake of 33 percent, maintaining its ongoing association with the franchise.
“With the fulfilment of these conditions, the acquisition has now been successfully completed,” the healthcare and energy conglomerate said in a statement.
“As part of the transaction, Irelia, managed by funds advised by CVC, will continue to hold a substantial minority stake of 33 per cent, maintaining its association with the franchise.”
It is understood the the sale was completed at an enterprise valuation of INR 7522 crore, meaning Torrent bought the 67 percent stake of INR 5035 crore.
CVC bought the Gujarat Titans franchise for INR 5626 crore in 2022 which means the IPL team has had appreciation in its value to the tune of 1897 crore, close to 34 percent.
Gujarat Giants has been one of the successful franchises having won the title in its inaugural year in 2022, finished runners-up in 2023. Last year, the Shubman Gill-led Gujarat Titans secured eighth position with five wins in the season.
“It is a matter of great pride for us to welcome Gujarat Titans and millions of its passionate fans into the Torrent Group. As sports continues to gain prominence in India, Torrent sees great potential in this rapidly growing sector.”
“With the acquisition of a majority stake in the Gujarat Titans, we are excited to have the opportunity to elevate our fan experience and unlock new growth avenues in the years to come,” said Jinal Mehta.
Gujarat Titans will begin their IPL 2025 campaign with a home game against Punjab Kings (PBKS) at Narendra Modi Stadium on March 25.
