Chennai Super Kings ownership to be unaffected with Srinivasan and family selling their India Cements stake

The Chennai Super Kings (CSK) ownership will be unaffected despite their holding company India Cements promoters N. Srinivasan and family selling their stake in the cement manufacturer to UltraTech Cement, Moneycontrol reports. This deal will not bother the controlling shareholder of CSK as Srinivasan and his family hold 28.14% of the franchise.

UltraTech Cement have said that their board have given a nod to a 32.72% stake in India Cements from their promoters and associates. It will reinforce their purchase of 22.77% stake in June at the cost of ₹268 per share. The latest transaction will boost UltraTech's ownership in India Cements to 55.99%.