Unlisted shares of Indian Premier League (IPL) team Chennai Super Kings (CSK) Cricket are in huge demand. India Cements spun off its IPL franchise into a wholly owned subsidiary in early 2015.
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At current off-market price, the company is valued at around Rs 450 crore as against the CSK brand value of $98 million (about Rs 700 crore) as per a valuation by American Appraisal India and Duff & Phelps.
“Many investors who got CSK shares early this week were seen selling them off market,” said Narottam Dharawat, a Mumbai-based broker who deals in unlisted shares. “Savvy investors are interested in buying CSK shares.”
CSK have been ranked as the most valuable IPL franchise brand. There have been eleven seasons of the IPL tournament. The current IPL title holders are the CSK, who won the 2018 season.
According to another independent report conducted by Brand Finance, a London-based company, after the conclusion of the 2018 Indian Premier League, the IPL has seen its business value grow by 37% to an all-time high of US$5.3 billion — crossing the five billion mark for the first time in a season. According to the director of the company: Now in it’s 11th season, the Indian Premier League is here to stay. The league has delivered financially for the players, franchisees, sponsors and India as a whole, prompting a strong desire among a range of stakeholders to appropriately value it. To ensure continued development, management and team owners will have to explore innovative ways of engaging fans, clubs, and sponsors.