Newspatrolling.com News cum Content Syndication Portal Online
~Promotors in conversation to dilute 2% stake at INR 450 Cr valuation~
~With the proposed stake sale, ISRL has raised almost 20 crore in season 1 for an overall 5% stake~
Bengaluru, February 05, 2024: The CEAT Indian Supercross Racing League (ISRL), a revolutionary franchise-based motorsport spectacle poised to become the fastest-growing league in India focusing beyond cricket. The league showcased the adrenaline-pumping journey with an explosive opening at the Pune race, mesmerizing over 9000 fans on the ground with live broadcast on TV and OTT. The company recently diluted its 3% stake to concentrate on promotion and on-ground activations, with a pre-season opening valuation of INR 350 crore.
With an objective to reach the maximum audience and elevating the stature of the sport, the promoters are in conversation with private investors to dilute 2% of the stake for a staggering valuation of INR 450 Crore just after the first race. The changing need to look beyond conventional sports is fuelling the excitement for motorsports. With strategic investment and market confidence, India represents a unique opportunity to redefine Supercross and reach new heights.
Mr. Veer Patel, Director and Co-Founder of CEAT ISRL, expressed his excitement, “We conceptualized it in 2015, documented in 2017, registered in 2019, and the first race took almost a decade to transition from paper to stadium. However, we received a pre-season valuation of INR 350 crores, which is a true testament to market potential and investor confidence. We are overwhelmed by the market response, witnessing an impressive jump of almost 30% in valuation just after the first race held in Pune. Our longstanding conversations with brands and partners have suddenly expedited. We are in the advanced stage of closing a minority stake sale to fuel our Season 1 plans, staying aligned with our INR 150 crore spending target. We are confident of achieving an INR 1000+ crore valuation post Season 3.”
ISRL has enlisted CEAT as the title sponsor, Toyota Hilux as the vehicle partner, Axor and Kawasaki India as the industry partner in significant deals. The broadcast rights have been granted to Viacome18 via Jio Cinema and sports 18. The league garnered an overwhelming response from the global sporting community with registrations from over 120 riders worldwide.
The first season includes a total of 3 races held in major stadiums, the team is poised to entice the audience of Ahmedabad and New Delhi after a successful completion of the Pune race.