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The new Ahmedabad-based IPL team, owned by CVC Capital, will be called Gujarat Titans, the franchise revealed on Wednesday, days ahead of the mega auction.

The naming of the Ahmedabad franchise comes days after the Lucknow-based team announced its official name as Lucknow Super Giants. Both Ahmedabad and Lucknow are two new entrants to the IPL and were bought by CVC Capital Partners (Irelia Company Pte Ltd) and RPSG Group respectively, last October.

"Debuting in the 15th season of the IPL, the Gujarat Titans will pay tribute to the state's rich cricketing legacy, which has seen it produce countless Indian international cricket legends over the years," the franchise said in a statement on Wednesday.

"The franchise is inspired by the opportunity to represent and build on this deep cricketing heritage, as well as build on its future success on the pitch," it added.

India all-rounder Hardik Pandya (Rs 15 crore) will lead the Ahmedabad team while they have also picked Rashid Khan (Rs 15 crore) and Shubman Gill (Rs 8 crore) via drafts ahead of the auction.

It will be only the second IPL team for all three players, with Rashid coming over from Sunrisers Hyderabad, Gill from Kolkata Knight Riders, and Pandya from Mumbai Indians. This will also be the first time Pandya will lead an IPL franchise.

Titans have also named their coaching staff comprising Ashish Nehra (head coach), Gary Kirsten (mentor and batting coach) and Vikram Solanki (director of cricket). The trio has worked together for Royal Challengers Bangalore previously.

Titans' home stadium will be the Narendra Modi Stadium in Ahmedabad, the world's largest cricket stadium.

"We want this group to achieve great things for Gujarat and its many passionate fans, which is why we have chosen the name Titans," Siddharth Patel, a partner at CVC, said.

"As we approach the league's mega auction, we are confident that we will be able to put together the right combination of players going into the new season. We want individuals that are not only highly skilled but who are inspired to be Titans of the game.

"We look forward to starting on our journey with the passion and support of the people of Gujarat, and hope to inspire and win over new fans from all over India and the world," he added.

Titans will have Rs 52 crore in their purse for the auction, scheduled to be held in Bengaluru on February 12 and 13.