According to a business standard report, Chennai Super Kings are approaching their pinnacle by securing the fourth title in Indian Premier League (IPL). The extraordinary performance of the franchise has set it on the course to become India’s first sports unicorn and the noteworthy franchise may also surpass its parent India Cements’ market capitalisation.
After losing three games on the trot in the league stage, Chennai Super Kings won the Qualifier 1 and finals as well. CSK brought home their fourth IPL title after their last victory in 2018 against Sunrisers Hyderabad. While it looked like the game was gettings away from their hand, they finally had a strong comeback.
The victory of CSK at IPL-14 in Dubai on 15 October has skyrocketed its valuation. CSK is the only Indian sports team to have its shares exchanging hands in the grey market.
CSK’s M – Cap
The franchise m-cap stood for 2,465 crore INR six months back whereas it stands 4,200 crore INR at present. It has almost doubled within the tenure of 6 months. Its parent company India cements stocks were trading at 214.40 per share on the BSE with an m-cap of net 6,664.20 crore INR.
N Srinivas, the MD of India Cements added that CSK’s m-cap would exceed that of his firm in no time as he felt that the franchise-based leagues would flourish in India.
Another expert described CSK as a “robust” brand that was aiding India Cements with its branding. This was witnessed when CSK players met India Cement manufacturer’s top brass at India Cements 75th anniversary. At the event, Srinivasan quipped that CSK was bigger than India Cements despite it being present for 75 years. He also added, CSK surpassed his firm in no time and credited India Cements vice president, MS Dhoni.