Torrent Group acquires 67% stake in Gujarat Titans after BCCI approval

Ahmedabad-based Torrent Group has acquired a 67% stake in IPL franchise Gujarat Titans ahead of the upcoming T20 season. The stake was purchased from Irelia Company, which is fully owned by private equity fund CVC. The deal has received all necessary approvals, including from the Board of Control for Cricket in India (BCCI), as reported by Economic Times.

Advertisment

Torrent Group and Irelia had signed the final agreements on February 12, pending standard closing conditions and approvals. With these requirements now met, the acquisition has been officially completed.

Irelia will retain a 33% minority stake in Gujarat Titans, one of the youngest IPL franchises. The team is captained by Shubman Gill and coached by Ashish Nehra. Gujarat Titans made an immediate impact by winning the IPL title in their debut season and finishing as runners-up the following year.

The acquisition is part of Torrent's strategy to expand its business portfolio while strengthening its presence in the Indian sports sector.

Click here to read article