The Torrent Group has confirmed its acquisition of 67% stakes in the Indian Premier League franchise, Gujarat Titans, marking a landmark move in the T20 league.
The Group has confirmed that its holder company, Torrent Investments Private Limited, has agreed to buy the 67% stakes from CVC-owned and funded Irelia Company Pte Ltd.
The Group’s Director, Jinal Mehta, expressed his excitement over acquiring the stakes of the IPL franchise. “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.
Notably, the Managing Partner at CVC, Siddharth Patel, highlighted on the team’s journey under 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,” he said.
More to follow…