CVC taps Gujarat's Titans for IPL sale; Adani & Torrent get another shot at buying team

Private equity firm CVC Capital Partners is in talks with Adani Group and Torrent Group to sell a controlling stake in the Indian Premier League (IPL) franchise, Gujarat Titans. The three-year-old franchise could be valued at between $1 billion and $1.5 billion. CVC bought the franchise in 2021 for ₹5,625 crore ($745 million at the then-exchange rate).