Adani Group to buy IPL shares from CVC capital, taking over Shubman Gill's Gujarat Titans: Reports

CVC Capital Partners are planning to sell most of their stake in the Gujarat Titans IPL team, valued at around 1-1.5 billion US dollars.

According to The Economic Times, the Luxembourg-based private equity firm is in talks with the Adani Group and Torrent Group about selling a majority of its stake in the Titans.

CVC Capital to Sell Majority Stake in Gujarat Titans

However, CVC Capital Partners will still keep a minority interest after the sale. CVC Capital Partners bought the Gujarat Titans for Rs. 5625 Crores in 2021, a year before the team made its first appearance in the Indian Premier League.There was a four-year lock-in period on the ownership, which is ending soon.

Gautam Adani is looking forward to owning the majority share in Gujarat Titans.

Adani Group and Torrent Group are considering expanding in the IPL.Adani Group & Torrent Group are in negotiations with CVC Capital Partners to acquire a controlling stake in the Gujarat Titans(ET). pic.twitter.com/Sgjc7RV5YV

— Sujeet Suman (@sujeetsuman1991) July 19, 2024

The Board of Control for Cricket in India doesn’t allow franchises to sell their stake before the lock-in period ends.With the lock-in period expiring in February next year, CVC Capital Partners are planning to leave their ownership of the Titans, who won the title in their first attempt.

Both Adani Group and Torrent Group initially showed interest in the franchise, bidding Rs 5,100 crore and 4,653 crore, respectively.

Adani and Torrent in talks to acquire majority stake of Gujarat Titans team

🔹Estimated value : 1 to 1.5 billion USD
🔹GT was acquired by CVC in 2021 for 5,625 cr

Lock-in period preventing the team from selling stakes ends in February 2025 pic.twitter.com/Lx97EDFgtZ

— The Index of Gujarat (@IndexofGujarat) July 19, 2024

Gujarat Titans: Performance Over the Years

The Gujarat Titans have been very successful in the IPL, reaching the finals twice and winning once in three years.After Hardik Pandya left the franchise for a lucrative 15 Cr deal with Mumbai Indians, GT named young batter Shubman Gill as his successor.However, Shubman Gill had a tough start to his leadership, with the Titans finishing eighth in the ten-team standings.