MS Dhoni-led Chennai Super Kings (CSK) who are a four-time IPL winning and two times Champions League winning side have set a huge record even before stepping onto the field for the IPL 2022. On Friday, CSK became India’s 1st SPORTS UNICORN. CSK’s market cap has now crossed 7,600 Crores and their shares in the GREY MARKET are trading at a record price of 210-225 price band.
CSK’s current market cap is more than the market cap of parent entity India Cements. The market cap of the leading cement company as per the STOCK VALUE at MARKET CLOSURE on Friday was 6,869 Crores.
The share price of the current IPL champions skyrocketed after CVC Capital acquired the Ahmedabad franchise for 5,625 crores.
The stock was trading at Rs 110-120 in the week of IPL 2021 Finals but currently is trading Rs 210-225 price-band. The CSK stock price has soared more than 2,000 percent in just three years, from the level of Rs 12-15 in November 2018.
“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 the precedence as we go along.” N Srinivasan, the Managing director of India Cements was quoted by a media outlet recently.
It is important to be noted that CSK is the only sports team in the country whose shares are available for public investment, and attracts interest due to their on-field performances.
MS Dhoni and CSK begin preparations for IPL 2022 Auctions
The IPL is set to have a mega auction in February as the cricket’s biggest league is set to become a 10-team tournament. Chennai Super Kings, who are the defending champions have also begun their preparations for the marquee event which is expected to start from 27 March.
MS Dhoni is in Chennai before heading to Bengaluru for the mega auction slated for February 12 and 13. The franchise according to the available information will conduct MOCK-AUCTION exercise and prepare themselves for the BIG-DAY
“Yes, he (MS Dhoni) has arrived in Chennai. He will be here for the auction discussions. He is likely to be present for the auction. But it is Mahi’s call and a call will be made close to the auction,” a source close to the development confirmed to InsideSport.
• CSK becomes India’s first UNICORN Sports Enterprise.
• MS Dhoni joins CSK management in Chennai to prepare for the mega auction.