The MS Dhoni-led franchise’s share in the grey market is trading in the Rs 210-225 price band. Chennai Super Kings Cricket Limited (CSKCL) is the owner of the Chennai Super Kings IPL side.
The shares of CSKCL had hit an all-time high in the unlisted market on October 26 2021, surging from Rs 110-120 per share to crossing the Rs 220-mark in trade within a week, bringing Chennai Super Kings Cricket Limited’s market cap to around Rs 7,000 crore in October.
CSKCL entered the Unicorn club (after touching the Rs 7500 crore mark) in just 11 days after they defeated Kolkata Knight Riders by 27 runs in the IPL 2021 final in the UAE.
CSK now has a market cap more than its parent entity, India Cements. India Cements’ market cap stood at Rs 6,869 crores in the last week of January 2022.
“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 precedence as we go along,” said N Srinivasan, managing director of India Cements last week.
One of the reasons behind the making of ‘Brand CSK’ is its unique fan following and the franchise-building of the team around its growing band of followers.
CSK has had MS Dhoni as its captain since the start of the tournament back in 2008. It has hardly changed its core group in the last decade which has also made it a fans’ favourite.
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