Torrent Group to snatch majority stake in Gujarat Titans from CVC Capital Partners

Torrent Group, a leading Indian multinational company based in Ahmedabad, is set to acquire a majority stake in the Indian Premier League (IPL) franchise Gujarat Titans (GT). Reports confirm that Torrent will buy a 67% share of Gujarat Titans from CVC Capital Partners ahead of IPL 2025.

CVC Capital Partners had bought the IPL franchise in 2021, but now the Torrent Group is to take over as the principal owners of the Gujarat Titans as early as the upcoming season, as reported by ESPNCricinfo.

Gujarat Titans set for new ownership as Torrent Group set to buy 67% stake

However, the exact valuation of the stake and further details of the deal are still being finalized, but the transaction is currently being processed by the IPL Governing Council.

Once the IPL Governing Council gives the approval, the latest deal will see the Torrent Group step into the role of major stakeholders in the GT, with their involvement expected to begin from next month when the upcoming IPL 2025 kicks off.

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Notably, CVC Capital Partners is a global private equity firm, and they had initially paid INR 5625 crore to buy GT when the BCCI introduced two new teams into the league in 2021.

Gujarat Titans had won the IPL title in their debut season in 2022, and then they finished as the runners-up in 2023 under Hardik Pandya’s captaincy, while they finished eighth in the IPL 2024 under Shubman Gill’s captaincy.

Torrent Group desperate to enter IPL

Meanwhile, the Torrent Group has been showing interest in cricket-related ventures for a long time now. Their subsidiary, Torrent Sports Ventures Private Limited, was one of the final bidders during the 2021 auction held by the BCCI to introduce two new IPL franchises.

In that auction, Torrent bid for the Ahmedabad and Lucknow franchises, but they were ultimately outbid by other parties, with Sanjiv Goenka’s RPSG Group owning the Lucknow Super Giants (LSG). Torrent had also bid for a team in the Women’s Premier League (WPL), but again they failed to get a team in the BCCI’s world of franchise leagues.

With an estimated valuation of INR 41,000 crore, Torrent Group is one of India’s top multinational companies. They have two subsidiaries: Torrent Power and Torrent Pharma. The man behind Torrent’s IPL investment will be Jinal Mehta, the son of Sudhir Mehta, the chairman emeritus of Torrent Group.

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Jinal Mehta to oversee Gujarat Titans in the IPL

Jinal is all set to lead the Torrent Group’s IPL investment in Gujarat Titans. For CVC Capital Partners, this deal will mark the end of their total control over the franchise, after what was their first successful venture into the world of cricket.

Before acquiring GT, CVC had bid for Delhi Capitals in 2018 when GMR Group sold a portion of its stake in the franchise. However, the Delhi Capitals were eventually bought by Jindal South West (JSW) for INR 550 crore at that time, so there was also not the CVC’s role.

Notably, the Gujarat Titans play their home matches at the Narendra Modi Stadium in Ahmedabad, which is the largest cricket stadium in the world, with a seating capacity of over 100,000. They have a talented roster, featuring Shubman Gill, Rashid Khan, Jos Buttler, and Mohammed Siraj for the next season.