Irelia will have 33 percent stake of team
The Competition Commission of India (CCI) has approved the Torrent Group associated with Power and Health Sector to get a majority stake in the Indian Premier League (IPL) Franchise Gujarat Titans. The notice submitted to the CCI on Wednesday stated, “The proposed combination is related to the purchase of 67 percent shareholding (on a fully liquid basis) and control by the acquisition.” Let us tell you that Torrent Investments are the holding company of the Torrent Group.
Irelia will have 33 percent stake of team
Irelia Sports India operates the Ahmedabad franchise of Gujarat Titans in the Indian Premier League. The notice stated, “The proposed combination is being notified under Section 6 (4) of the Competition Act.” Last week, the Torrent Group announced the acquisition of a majority stake in the Gujarat Titans. With this, this company of Ahmedabad has now also landed in the playground. Under this deal, Irelia will have a 33 percent stake in franchise.
IPL 2025 is starting from 22 March
Let us tell you that the IPL will start from next month after the end of the ICC Champions Trophy 2025 being played in Pakistan and Dubai. The first match of IPL 2025 will be played on 22 March. In this season of IPL, Gujarat Titans will play their match against Punjab Kings on 25 March and the match will be played at Narendra Modi Stadium in Ahmedabad.
How was the condition of Torrent Group shares on Thursday
On Thursday, Torrent Group’s pharmaceutical company, Torrent Pharma shares were down by Rs 22.05 (0.71%) on BSE at a price of Rs 3094.55. The current market cap of Torrent Pharma is Rs 1,04,728.93 crore and is the largest company in Torrent Group. Whereas, Torrent Power shares closed at Rs 1259.30 with a slight increase of Rs 0.50 (0.04%) yesterday. The current market cap of this company of Torrent Group is Rs 63,456.57 crore.
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