Torrent Group secures majority ownership in Gujarat Titans during ownership restructuring.

Torrent Group (Torrent) has obtained a controlling interest of 67 percent in the Indian Premier League (IPL) team Gujarat Titans. The agreement — which depends on standard closing conditions and approvals, including those from the Board of Control for Cricket in India — will allow former owners CVC to keep a minority stake of 33 percent in the franchise.

Pending the final authorization from the IPL’s governing council, GT’s new owners may potentially participate starting from the IPL 2025 season. The next IPL season is set to begin on March 21. CVC, a worldwide private equity firm, paid Rs 5625 crore in 2021 to acquire the Gujarat Titans.

The franchise based in Ahmedabad had won the IPL title in their inaugural season in 2022 before reaching the final in the upcoming season. Following the departure of captain and key player Hardik Pandya to the Mumbai Indians after season 2, the Gujarat Titans concluded the 2024 season in eighth place. The franchise operates from the Narendra Modi Stadium, renowned as the largest cricket stadium in the world, accommodating more than 100,000 spectators.

“Torrent Group has entered into a definitive agreement to acquire majority stake of 67% in the renowned Indian Premier League (IPL) franchise, Gujarat Titans (Irelia Sports India Private Limited) from Irelia Company Pte Ltd (“Irelia”) – currently fully owned by funds managed or advised by CVC,” a press release stated.