Torrent Group Acquires Majority Stake in Gujarat Titans

Ahmedabad, 17th March 2025: Torrent Group (“Torrent”), a diversified conglomerate with interests in
Healthcare and Energy sectors, has successfully completed the acquisition of a 67% majority stake in the
Indian Premier League (IPL) franchise Gujarat Titans (Irelia Sports India Private Limited) from Irelia
Company Pte Ltd (“Irelia”), following the receipt of all necessary approvals, including from the Board of
Control for Cricket in India (“BCCI”).

Previously, on 12th February 2025, Torrent and Irelia had announced the signing of definitive agreements
for this transaction, subject to customary closing conditions and approvals. With the fulfillment of these
conditions, the acquisition has now been successfully completed. As part of the transaction, Irelia,
managed by funds advised by CVC, will continue to hold a substantial minority stake of 33%, maintaining
its association with the franchise.

Strengthening the Gujarat Titans Legacy

The Gujarat Titans, one of the youngest and most successful franchises in IPL history, will now benefit
from Torrent’s extensive expertise in building and managing large-scale businesses. With a focus on
strengthening team operations, fan engagement, and commercial growth, the acquisition sets the stage
for an exciting future for the franchise.

This milestone underscores Torrent Group’s commitment to diversifying its business interests while
supporting India’s booming sports ecosystem. The IPL, one of the most-watched sporting events globally,
continues to grow in stature, and Gujarat Titans remain at the forefront of this evolution.

About Torrent Group

Torrent Group, with revenues of over ₹41,000 Crores (approx. USD 4.9 billion) and a market capitalization
of ₹2 lakh crore (approx. USD 23 billion), is a leading player in Pharmaceuticals, Power Generation,
Transmission and Distribution, and City Gas Distribution (CGD). The Group is also actively expanding into
the Electricals and Diagnostics sectors. Torrent employs over 25,000 people across India and
internationally, with a strong legacy of excellence and innovation in its businesses.

About CVC

CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA,
the Americas, and Asia, with approximately €200 billion of assets under management. CVC has seven
complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of approximately €249 billion from some of the world’s leading pension
funds and other institutional investors. Funds managed or advised by CVC’s private equity strategy are
invested in approximately 140 companies worldwide, which have combined annual sales of over €162
billion and employ over 580,000 people.

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About Gujarat Titans

Established in 2022, Gujarat Titans is among the most exciting franchises in the Indian Premier League
(IPL), which boasts a viewership of over 400 million annually and a global fan base exceeding one billion
people. Led by Shubman Gill and coached by Ashish Nehra, the Titans made history by winning the IPL
title in their debut season and finishing as runners-up the following year. Gujarat Titans play at the world’s
largest cricket stadium, the Narendra Modi Stadium in Ahmedabad.
With the completion of this transaction, Torrent Group is set to embark on an exciting journey with
Gujarat Titans, further strengthening the franchise’s position as a powerhouse in Indian and global cricket.