Torrent Group Acquires Majority Stake in Gujarat Titans for IPL Expansion

Torrent Group has secured a 67% majority stake in the IPL's Gujarat Titans, enhancing their presence in India's sports sector. The acquisition, approved by BCCI, signifies Torrent's commitment to diversify its business interests. Irelia will retain a 33% minority stake in the franchise.

In a significant move, Ahmedabad-based Torrent Group has successfully acquired a majority stake of 67% in the IPL team Gujarat Titans. This acquisition marks Torrent's strategic entry into India's burgeoning sports sector, showcasing the conglomerate's intent to diversify its business portfolio.

The deal received all requisite approvals, including from the Board of Control for Cricket in India (BCCI), ensuring that the transition aligns with regulatory standards. Irelia Company Pte Ltd, managed by CVC, will continue to hold a 33% minority stake, maintaining its connection with the franchise.

This acquisition highlights Torrent's vision to bolster team operations, fan engagement, and commercial growth. The Gujarat Titans, an emerging force in IPL history, stand poised to benefit from Torrent's extensive expertise in managing large-scale enterprises as they prepare for an exciting future in the global cricket arena.

(With inputs from agencies.)