Gautam Adani and Torrent Group are talking with CVC Capital Partners to buy a controlling stake in the Gujarat Titans IPL team. A report by the Economic Times says that CVC Capital Partners might sell a majority stake but keep a minority holding. The BCCI’s lock-in period which prevents the IPL teams from selling new shares to others is likely to end in February 2025 so Adani group and Torrent group can aim for the share after February 2025.
Gautam Adani and Torrent buy a majority stake in Gujarat Titans
The report says the Gujarat Titans might be valued between $1 billion and $1.5 billion. CVC Capital Partners bought the team in 2021 for ₹5,625 crore. The team is now three years old. “Having missed out on the opportunity to own IPL’s Ahmedabad franchise in 2021, Gautam Adani and Torrent are vying aggressively to buy a majority stake in Gujarat Titans. For CVC Capital Partners, it’s a great opportunity to monetise its stake in the franchise,” the Economic Times report
“IPL franchises have been attracting a lot of investor attention since the league has established itself as an attractive asset with solid cash flows,” the report quoted.
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Who Is Gautham Adani And What Are His Previous Shares
Gautam Adani was born on June 24 in 1962. He is an Indian businessman and the founder and chairman of the Adani Group, a multinational company involved in port development and operations in India. Adani’s journey is truly remarkable. He went from being a school dropout and diamond polisher to becoming one of the richest people in the world. His story has inspired many across India.
Adani has significantly contributed to the country’s economic growth. As of February 2024, his net worth is estimated at $82.3 billion, placing him among the Forbes Real Time Billionaires. Recently, he even surpassed Mukesh Ambani to become the richest person in Asia, with a net worth of $111 billion.
Adani has invested in cricket before by acquiring teams in the Women’s Premier League (WPL) and UAE International League T20. In 2023, Adani secured the WPL’s Ahmedabad franchise with a top bid of ₹1,289 crore. Now Gautam Adani and Torrent Group are planning to take up Gujrat Titans shares.
CVC Capital Partners has invested in several companies including hospital chain Healthcare Global, industrial chemicals maker Sajjan India and data and professional services firm United Lex.
On May 3, Mint reported that Singapore-based Temasek Holdings might bid for CVC Capital Partners’ majority stake of 60.4 percent in Healthcare Global Enterprises Ltd. Other potential investors include TPG, Bain Capital, and VPS Healthcare (Burjeel Holdings).
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