CSK Becomes India’s First sports Unicorn

Chennai Super Kings has become India’s first sports unicorn in the lead up to the season 15 of Indian Premier League (IPL). The franchise, a part of Chennai Super Kings Cricket Ltd, has been able to garner exceptional valuations from its investors in excess of $1 billion.

The latest buzz in stock markets is the expected price of the Chennai Super Kings at Rs-210-225.

The Mahendra Singh Dhoni-led CSK, which won its fourth IPL title in Dubai last year, now has a market cap more than its parent entity, India Cements. India Cements’ market cap stood at Rs 6,869 crores.

The Unicorn Club refers to the group of startups that have reached a billion dollar valuation. The club was once exclusive, with its members kept a guarded secret among venture capitalists across the world.

India is currently home to 81 unicorns as of now, with a total valuation of $274 billion. Of these, 43 unicorns with a total valuation of $89 billion emerged just last year.