CSK Stocks Surge After Two New Teams Enter IPL

MS Dhoni-led IPL team, Chennai Super Kings, saw an increase in the prices of its unlisted shares, from Rs 110-120 to Rs.210-220 within a limited time frame after the two new teams, Lucknow Supergiants and Gujarat Titans, were ready to enter the Indian Premier League. It’s not only the excitement of supporting the best team but the thrill of investing that gripples cricket fans all around the globe. Chennai Super Kings, one of the best IPL teams, has made its share available for people to trade as a part of the unlisted market. Let’s have a look at the CSK unlisted shares in a little more detail.

The Rise In Price Of CSK Unlisted Shares

The only IPL team that has made its shares available in the unlisted market domain has seen the prices of its stock skyrocket as soon as the news came into the public domain that two new teams entered the premier league. The stock, which started trading at Rs 110-120, significantly rose to Rs 210-220. The reason for this extreme price rise is the valuations that the two new teams had gained. Narottam Dharawat of Dharawat Securities said, “It’s the only franchise whose shares are available, attracting strong buying demand.”

It was said that the RPSG group, who undertook the Rising Pune Supergiant team in the 2016 and 2017 IPLs, now took the franchise of Lucknow Super Giants with a bid of Rs 7090 crore in October.

CVC Capital Partners, an investment firm, made the second-largest bid of Rs 5,625 crores after the RP-Sanjiv Goenka Group bid to acquire the Ahmedabad franchise.

What Made CSK Stocks A Good Choice For Investors?

As much as people enjoy tracking the progress of a sports team by its on-ground performance, investors are much rather interested in laying out a financial report card of the sports teams. Chennai Super Kings being the only IPL team to trade its share in the unlisted market got the first-mover advantage and delighted the investors and cricket lovers to try their luck at both sports and stocks in one place. With the increasing craze of the IPL among people, the willingness to buy CSK unlisted shares among the investors also increased. Not only this but the investor Radhakrishna Damani, holding a 2.94 per cent stake in the IPL team as of March 2020, and the state-owned LIC having a 6% stake gave investors another positive sign to invest in the unlisted stocks.

CSK Unlisted Stock Performance

CSK came into existence in 2008 when India Cements (owned by N Srinivasan) bought the franchise rights for Rs 346 crore. The revenue rose by 37.61 % from the year 2021 to 2022. The company is on the lines of becoming India’s first sports unicorn. The market valuation of the company is around Rs. 4200 crores. The CSK unlisted stock has good growth potential due to the ever-growing craze towards the sport and the brand value, along with strong investor support. The current buying and selling price of  CSK unlisted shares is Rs. 155 and Rs. 176, respectively (approximate figures). This is the only cricket franchise team that lets the investors buy unlisted shares to generate multiple returns. The financials of this sports team paint a good picture of the growth potential that CSK possesses.

Financial Report

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