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The Gujarat Titans became the champion in its first season i.e. 2022 of the IPL.
Ahmedabad -based Indian business company ‘Torrent Group’ IPL team is a large part of Gujarat Titans. Torrent Group, will buy 67% stake from the current GT owner CVC capital partners. The team was bought by CVC Capital Partners in 2021.
On Wednesday, the owner of Gujarat Titans gave this information. The Governing Council of the Final Decision League will be held about the deal. The Global Private Equity Fund Company CVC bought GT for Rs 5625 crore. The team won the IPL title in their first season of 2022 and was a runner up in 2023. Shubman Gill captains Gujarat.
Torrent also bid in 2021 When two new IPL teams were being bid in 2021, Torrent Group was also included in 9 companies. At that time the group bid for 4653 crore for Ahmedabad and Rs 4356 crore for Lucknow. Apart from this, Torrent also bid to buy the team in the Women’s Premier League (WPL). In 2018, when some shares of Delhi Daredevils (now Capitals) were being sold, the Torrent Group tried.
Final deal will be governing council We were also in the race to buy the Gujarat Titans franchise in 2021. 4,653 crores Was bid but missed it then. This time there has been a friendly deal between the CVC Group and the Torrent. The official deal will be signed as soon as the lock in period is over in February. This is the statement of a senior officer of the Torrent Group. Which confirms that the new boss of the Gujarat franchise of the three -year -old IPL will now be the company of Gujarat.
Ahmedabad’s Torrent Group and CVC Capital Partner have reached an agreement to takeover the IPL franchise Gujarat Titans. The deal between senior officials of both groups is currently as ‘Friendly Shakehand’. Because the lock in period of the Titans is currently going on. According to BCCI rules, no group can sell their franchisees during the lock in period.
Torrent will buy 67% stake instead of 100% Sources associated with both groups say that instead of selling the entire holding of the CVC group franchise, the controlling stack is selling to the Torrent Group, so the Torrent Group will buy 67% stake. In 2021, the CVC Group has Rs 5,625 crore. Had bought Let me tell you, Adani Group was also involved in the race to buy this franchise.
In 2021, the Adani Group also bid for 5,100 crores for this, but then the Baji CVC Group killed. The 18th season of IPL will start from March 21 and the final will be played on 25 May. A total of 74 matches will be played this season.
Torrent to buy Gujarat Titans … According to Torrent sources, the lock period will end in this month i.e. February. This deal will be done by 15 February. How much the deal is done, it has been kept secret. But it is estimated that it can range from 6100 crores to 7800 crores.
Why CVC is selling stake Luxembourg’s CVC group is running a strategy on the pattern of the stock market. That is, if the profit is made, then book the profit and get out.
In 2021, 2 were bid for 2 new teams In the year 2021, a bid was installed in Dubai to add two new teams to the IPL. It had 6 cities in the race. Apart from Ahmedabad and Lucknow, the names of Cuttack, Guwahati, Indore and Dharamshala were included. A total of 22 business houses had shown interest to buy two teams. These included Adani Group, English Football Club Manchester United owner Glezer Family, Torrent Pharma, Aurobindo Pharma, RP-Sivaja Goenka Group, Hindustan Times Media Group, former MP Naveen Jindal’s Jindal Steel, Ronnie Screwvala and three private equity people. .
RP-Sanjeev Goenka Group bought Lucknow team for Rs 7,090 crore. At the same time, CVC Capital bought Ahmedabad team for Rs 5,166 crore.