CSK Becomes First Indian Sports Establishment To Gain Unicorn Status

Chennai Super Kings (CSK) has become the first Indian sports enterprise to gain unicorn status with its market cap surpassing INR 7,600 crore and the share value in the market trading entering INR 210-225 price band.

The franchise’s market cap went past its parent entity, India Cements. On Friday, India Cements’ market cap was at INR 6,869 crores. As per reports, there were two factors that led to the rise in market cap.

The first one was the fact that MS Dhoni-led outfit won their fourth IPL title in Dubai last year and the second was the addition of two new franchises to the league – 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.

“Passion for cricket is so much in India” – N Srinivasan on CSK’s growth

The Chennai outfit is the second most successful team in the league and one of the three most popular outfits among the fans. With 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.

“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,” Srinivasan, managing director of India Cements, said.

The shares of Chennai Super Kings Cricket Limited had also received a huge boost last year, going from INR 110-120 per share to INR 220 per share within a week.

Also, Read – Contest Between India And Pakistan Brings That Anticipation All Around The World, Cricket Fans Are Deprived Of That – Aamer Sohail