New owners of Gujarat Titans announced, it is a Rs 41000 crore company, the name of owners are…

Torrent Group “through its holding company Torrent Investments Private Limited (TIPL) has entered into a definitive agreement to acquire a majority stake of 67 per cent in the renowned Indian Premier League (IPL) franchise, Gujarat Titans,” it said in a statement.

Irelia Company Pte Ltd, which is currently owned by funds managed or advised by CVC, will retain a substantial minority stake of 33% in the franchise as part of the deal, the Torrent Group said in a statement

The transaction is subject to customary closing conditions and approvals (including from BCCI), it said.