IPL 2021 – CSK first sports Unicorn? MS Dhoni led Chennai Super Kings (CSK) some of the best weeks of their existence. First surprising everyone CSK won IPL 2021 title last week and now they are breaking big records on commercial pitch. The win of CSK in IPL 2021 has boosted the value of their shares in Grey market by almost 60-70%. This has resulted in CSK’s market cap at Rs. 4200 Crore.
IPL 2021 champions Chennai Super Kings ready to become India’s first Sports UNICORN, crazy jump for shares in grey market
CSK first sports Unicorn? According to a report by the Business Standard, CSK shares are currently trading at Rs. 135 each. They could surpass its parent company India Cements in market capitalization, the Business Standard has reported. This means CSK is on cusp of becoming India’s first sports-unicorn
– On Monday, CSK’s shares were trading at Rs 135 each
– By this rate CSK’s current market cap stands at Rs 4,200 crore
– Vis a vis CSK’s market cap was just 2,465 crore in April 2021
Will CSK become bigger entity than parent entity India Cements? As of today’s India cements shares in the market are being traded at Rs. 212 and m-cap of around Rs 6,600 crore. CSK has already reached almost 75% of market cap of the parent company & with some more spike in the shares they can not only become more valued than Indian Cements but can also become India’s first SPORTS-UNICORN.
“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 told Business Standard
IPL 2021: CSK shares had fallen 30% in grey market with the suspension of IPL in May 2021
CSK first sports Unicorn? CSK this IPL had seen both end of spectrums in the financial markets. When the IPL 2021 was suspended in May this year, CSK shares had fallen by almost 30% and were trading at Rs. 60-62
Now the same stock is already trading 2.5 times at 135 with victory in IPL 2021.
Earlier this year, Duff & Phelps had lowered the brand value of CSK after COVID-19 pandemic ravaged the country since 2019. Adding to it, CSK’s brand value slumped by 16.5 per cent to Rs 611 crore in IPL last year.
The shares had witnessed a huge rise in last two years where it rallied by up to 400 per cent between 2018 and 2020 to trade at Rs 48-50 from Rs 12-15.
Life Insurance Corporation of India (LIC) holds 6.04 per cent stake in the company while Ace investor Radhakishan Damani held 2.39 per cent or 73,69,263 shares in the company till the last quarter of FY 2018.
It is notable that CSK is the only sports team in the country whose shares are available for public investment, which attracts interest due to previous performances.
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