Aditya Birla Group's UltraTech Cement acquired India Cements. This deal took place on 28 July. UltraTech said in a statement that its board has approved the purchase of 32.72 percent in India Cements. With this he will have a total stake of 55.49 percent in the company. After this, the question is being asked whether the ownership of IPL's most successful franchise Chennai Super Kings will also change. Currently its ownership is with N Srinivasan and his family. Till now Srinivasan was the owner of India Cements. But even after the acquisition of India Cements, the ownership of CSK will remain with Srinivasan.
CSK was taken over by India Cements before the start of IPL in 2008 but its control passed to a different company in 2015. Currently, this IPL franchise works under Chennai Super Kings Cricket Limited (CSKCL). In 2015, the shares of the IPL team were distributed among the people involved in India Cements. In this way, lakhs of people currently have shares in CSKCL. However, the maximum stake is with the Srinivasan family. In such a situation, the acquisition of India Cements will not have any impact on Chennai Super Kings.
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Dhoni is the Vice President of India Cements
It is not yet decided what will happen to the roles of cricketers like MS Dhoni, Rahul Dravid, and R Ashwin. These players are holding different positions in India Cements. Dhoni is the Vice President of this company. India Cements also operates some teams in Tamil Nadu cricket. The picture of their future is also not clear.
India Cements is a 77-year-old company. After its acquisition, UltraTech's dominance in the cement market continues. He has bought 32.72 percent stake for Rs 3954 crore. Earlier in June 2024, 22.77 percent shares were taken for Rs 1889 crore.
As for CSK, who won their fifth IPL title in IPL 2023 could not finish in the top four in IPL 2024. Ruturaj Gaikwad was appointed the team's captain but after a hard-fought season team could only finish at number five. Now the big question will be who will they retain ahead of the upcoming mega auction and will the legendary MS Dhoni play another season.
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