Fresh off securing a fourth IPL title in a comfortable win over KKR, the Chennai Super Kings, are on course to becoming India's first sports unicorn, according to a Business Standard report. The franchise may even surpass its parent India Cements' market capitalisation (mcap).
On Monday, CSK's shares were trading at Rs 135 each, with its mcap at Rs 4,200 crore after Friday's win as compared to Rs 2,465 crore in April 2021, the report added. Its parent company India Cement's stocks were trading at Rs 214.40 per share on the BSE with an mcap of around Rs 6,644.20 crore.
An expert told the publication that should the two new franchises joining the IPL next year be valued at Rs 4,000 to Rs 5,000 crore, CSK's shares could touch Rs 200 apiece on the unofficial market.
N Srinivas, MD of India Cements had also told the publication that CSK's mcap would soon exceed that of his firm as he felt franchise-based leagues, like the IPL, would flourish in the country.
Another expert described CSK as a "robust" brand that was also helping India Cements with its branding. An example of this was seen at India Cements' 75th Anniversary celebration when CSK players met the cement manufacturer's top brass. At the event, Srinivasan quipped that CSK was bigger than India Cements despite it being present for 75 years. He added that the CSK outdid his firm in "no time" and credited skipper M S Dhoni, who is also India Cements' Vice President.
It was also at this event where Dhoni said he would play his final
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(Published 18 October 2021, 06:04 IST)
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