Chennai Super Kings to possibly become the country’s first sports unicorn
Fourth time IPL reigning champions, the Chennai Super Kings are set to possibly become India’s first ever sports unicorn and overtake parent company, India Cements’ market capitalisation (mcap).
CSK’s unlisted shares were trading at approximated Rs. 135 each, raising its mcap to a value of around Rs. 4200 crore after the team’s recent IPL victory from a value of Rs. 2465 crore in April 2021, as per a Business Standard report.
Last week, CSK parent company India Cements stocks were trading at Rs. 214.40 per share at an mcap of around Rs. 6644 crore. As per the report, CSK’s stock values may rise up to Rs. 200 per share on the unofficial market.
“On Friday, it was trading around Rs 135 per share. If the new teams are coming at a price of Rs 4,000-5000 crore, the retail price of CSK may shoot up to Rs 200. This may well become a Rs 8,000 crore company and a unicorn soon,” commented Hitesh Dhankani, co-founder of Analah Capital.
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