Ahead of the 15th edition of the Indian Premier League (IPL), one of the most successful franchises of IPL added another feather to its cap. Chennai Super Kings become the country’s first sports unicorn. CSK achieves a market cap of $1 billion in the private equity market. The franchise’s market cap went past its parent entity, India Cements. The Mahendra Singh Dhoni led franchise won its fourth IPL title in Dubai last year. And now its market cap went past its parent entity, India Cements.
Key reasons for CSK achievement
Recently CSK achieves a market cap of $1 Billion. The franchise which is one of the best is also one of the best in financial markets. But how CSK achieves this great value, ever greater than their parent value. There are two key reasons for this achievement. The first one was the fact that MS Dhoni led franchise won their fourth IPL title last year in Dubai. And the second was the addition of two new teams from this season of Indian Premier League (IPL) namely Lucknow and Ahmedabad.
Sanjiv Goenka’s RPSG Group bought the Lucknow franchise, named Lucknow Supergiants, for INR 7,090 crores while CVC Capitals bought the Ahmedabad franchise for INR 5,625 crores.
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“Passion for cricket is so much in India” – N Srinivasan on CSK’s growth
N Srinivasan, the managing director of India Cements and former President of BCCI also predicted some days ago that CSK will outgrow parent India Cements.
“Brand CSK will outgrow Brand India Cements. If you look at the history of franchise-based leagues in the US, it will outgrow everything. Passion for cricket is so much in India. The road between countries will see franchise-based leagues getting precedence as we go along.”
N Srinivasan
The Chennai outfit is the second most successful teams in the history of the Indian Premier League (IPL). The Chennai outfit is one of the most popular outfits among the fans. With MS Dhoni as its face, the crowd attracted is quite immense. In addition, cricket is the most popular sport in India and will keep contributing to the brand’s growth.
