Torrent Group Set to Acquire Majority Stake in Gujarat Titans

The Torrent Group, an Indian business conglomerate, is set to acquire a 67% stake in former IPL champions Gujarat Titans from CVC Capital Partners. Awaiting IPL governing council's approval, the acquisition marks Torrent's expansion into the cricket domain. Ownership approval is anticipated soon.

Gujarat Titans, past victors of the Indian Premier League, are poised for a change in ownership as the Torrent Group, an Indian business conglomerate, prepares to take the helm. The group is expected to acquire a significant 67% stake from current owners CVC Capital Partners, who originally invested in the team back in 2021.

This transaction is currently pending approval from the IPL governing council. If granted, it would enable Torrent Group to assume control before the start of the new season on March 21. The shift comes as the lock-in period for CVC Capital Partners as sole owners approaches its conclusion in February 2025, allowing them to sell their stake.

This move reflects Torrent Group's ambitions to penetrate the cricket sector, as evidenced by their previously unsuccessful bids for other franchises. The conglomerate, which holds substantial clout in India's pharmaceutical sector, possesses a notable market valuation of around Rs 41,000 crore.