Ahmedabad-based Torrent Group has completed the acquisition of a 67% controlling stake in IPL franchise Gujarat Titans after receiving all necessary approvals, including from the Board of Control for Cricket in India (BCCI).
The stake was purchased from Irelia Company, a wholly-owned subsidiary of private equity fund CVC. According to the Economic Times, the final agreements between Torrent Group and Irelia were signed on February 12, with the deal now officially closed after meeting all standard conditions and securing required approvals.
Irelia will maintain a 33% minority stake in the franchise. Gujarat Titans, one of the newest IPL teams, has enjoyed remarkable success under captain Shubman Gill and coach Ashish Nehra, winning the IPL championship in their inaugural season and finishing as runners-up the following year.
This acquisition aligns with Torrent Group’s strategic expansion plans, enhancing its business portfolio while establishing a significant presence in India’s growing sports industry ahead of the upcoming T20 season.
