Torrent Group Planning To Buy Majority Stake In Gujarat Titans, Report Says Adani Withdraws

Torrent Group is set to acquire a majority stake in Gujarat Titans, one of the franchises of the Indian Premier League (IPL). The Ahmedabad-based group, which has interests in pharma, power and city gas sectors, has reportedly reached a deal with CVC Capital Partners, which currently owns the team. CVC is expected to retain a minority stake in the franchise. Gujarat Titans was purchased by CVC for Rs 5,625 crore in 2021 and is now valued at over ₹8,400 crore. According to reports, Adani Group initially showed interest in acquiring the team but backed out to focus on its core businesses. Both Adani and Torrent previously bid for the IPL’s Ahmedabad franchise in 2021, with Adani offering Rs 5,100 crore and Torrent bidding Rs 4,653 crore, but neither was successful. CVC Capital Partners, a prominent investor in the sports ecosystem, holds stakes in leagues like La Liga, Premiership Rugby, and Volleyball World.