Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Torrent to acquire 67% stake in IPL cricket team Gujarat Titans for Rs.5,000-Cr
Torrent Group, a business conglomerate headquartered in Ahmedabad is to buy a 67% stake in Gujarat Titans, a cricket franchise that competes in the Indian Premier League (IPL) for INR 5,000 crore, valuing the team at INR 7,500 crore.The group, through its holding company Torrent Investments Pvt Ltd (TIPL), will purchase the stake in Gujarat Titans (Irelia Sports India Pvt Ltd) from Irelia Company Pte Ltd, currently fully owned by funds managed or advised by CVC Capital Partners. Irelia will retain a substantial minority stake of 33% in the franchise.
CVC Capital Partners had won a INR 5,625 crore bid for the team in October 2021.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.