NEW DELHI: Healthcare and energy conglomerate Torrent Group has announced its entry into the sports sector with the acquisition of a majority stake in IPL franchise Gujarat Titans.
The Ahmedabad-based company is purchasing a 67% stake in the team for an undisclosed amount, marking a significant expansion into India's rapidly growing sports industry.
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In an official statement, Torrent Group confirmed that its holding company, Torrent Investments Private Limited (TIPL), has signed a definitive agreement to acquire the stake from Irelia Company Pte Ltd, which is fully owned by funds managed or advised by CVC.
The deal is subject to customary closing conditions and regulatory approvals, including clearance from the BCCI. Despite the change in ownership structure, Irelia will retain a substantial 33% minority stake in the franchise.
Commenting on the acquisition, Jinal Mehta, Director of Torrent Group, expressed enthusiasm about the company's entry into Indian sports.
“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,” he said.
Mehta further emphasized Torrent’s commitment to nurturing the franchise, stating, “We aim to build a lasting legacy for our players, employees, and passionate fanbase. With our track record of excellence across multiple industries, we are confident in setting new benchmarks in the sports sector.”
Siddharth Patel, Managing Partner at CVC, reflected on Gujarat Titans’ 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.”
Nick Clarry, another Managing Partner at CVC, highlighted CVC’s broader involvement in global sports investments.
“Our history in sports includes MotoGP and Formula One, and we are extremely proud of how Gujarat Titans have evolved. We deeply appreciate our fans, management team, players, and the BCCI, who have played a crucial role in making Gujarat Titans a leading franchise on and off the field. With Torrent’s support, we expect the team’s success to accelerate even further,” he said.
