Ahmedabad: City-based Torrent Group is set to acquire a majority stake in the Indian Premier League (IPL) franchise Gujarat Titans.

The business conglomerate plans to purchase a 67% stake from CVC Capital Partners (Irelia Company Pvt Ltd), which acquired the team in 2021. The deal is likely to be finalized next week, as the lock-in period for CVC as sole owners ended on February 10. As per reports, the franchise is expected to be valued at approximately Rs 7,500 crore ($856 million), with the agreement awaiting approval from the IPL governing council.

It is learned that the IPL is processing the final paperwork, and subject to final approval, Torrent Group will take control of the franchise ahead of the upcoming season, which begins on March 21.

Gujarat Titans won the IPL title in 2022 under Hardik Pandya’s leadership and finished as runners-up in 2023. However, the Shubman Gill-led side struggled last season, finishing in eighth place. DeshGujarat