Midcap Tyre Stock In Focus: Apollo Tyres Wins Mega Deal From BCCI, Becomes Lead Sponsor Of Team India

The share price of midcap BSE 500 listed tyre company Apollo Tyres will be in focus on September 17, as the company inked a three-year strategic partnership with the Board of Control for Cricket in India (BCCI). This means Apollo Tyres has become the lead sponsor of Team India.

Apollo Tyres-BCCI Deal:

As per the regulatory filing, the agreement gives Apollo Tyres the Title Sponsor Rights for all bilateral and ICC (including both men and women teams) in India and outside the country.

Also, Apollo Tyres' logo will be prominently featured on the front and leading arm of the official Team India jersey, symbolizing a powerful alliance between one of the world's most beloved sports and a brand ready to go the distance for the national pride.

Neeraj Kanwar, Vice Chairman and Managing Director, Apollo Tyres Ltd., said, "Cricket's unmatched popularity in India and worldwide makes it an honour for us to become the 'National Team Lead Sponsor' of Team India."

He added, "This partnership is about national pride, strengthening consumer trust and showcasing Apollo as a true leader in our category, while supporting Indian sports at the highest level and creating unforgettable moments for fans worldwide."

Apollo Tyres markets its products under its two global brands - Apollo and Vredestein, and its products are available in over 100 countries through a vast network of branded, exclusive and multi-product outlets.

This tyre giant is going to scoop out at least Rs 4.5 crore per bilateral game of the Indian cricket team, which is up by Rs 0.50 crore from the Rs 4 crore of Dream11, the previous sponsors.

Apollo Tyres will continue to be the face of the Indian team's jersey and hold the sponsorship rights till March 2028 including as many as 130 fixtures.

What BCCI Said?

It needs to be noted that BCCI is the governing body for cricket in India. It organizes domestic and international matches and works to grow and promote the sport at all levels.

Devajit Saikia, Honorary Secretary, BCCI, said, "The arrival of Apollo Tyres as our new sponsor is a testament to the hard work and consistent performance of our teams."

"We are excited about this being Apollo's first major sponsorship in India cricket, which speaks volumes about the sport's unparalleled reach and influence. This is more than a commercial agreement; it's a partnership between two institutions that have earned the trust and respect of millions," said Saikia.

In its statement, BCCI said, the agreement spans two and a half years concluding in March 2028. Under the terms of the deal, the Apollo Tyres logo will be featured on the jerseys of the Indian men's and women's national teams across all formats. This partnership succeeds the previous sponsorship held by Dream11.

The tie-up is pivotal for both Apollo Tyres and the Indian cricket teams including men and women, as it promises impactful fan engagement, innovative activations and a celebration of Indian cricket's legacy and future.

The partnership officially has come into effect immediately.

Furthermore, Rajeev Shukla, Vice-President, BCCI, said: "We are delighted to welcome Apollo Tyres as our new lead Sponsor. This is a momentous occasion, bringing together two of India's most powerful and enduring legacies: the unwavering spirit of Indian cricket and the pioneering legacy of Apollo Tyres. The competitive nature of the bidding process highlights the strong market confidence in the BCCI and the global brand of Team India. We are confident that this partnership will be a driving force for mutual growth and success."

India is currently expected to play 141 matches ahead in the tenure. Of these, 121 are bilateral matches and 20 matches in the ICC. For this, Apollo Tyres will infuse Rs 579.06 crore. Apollo Tyres' bid was highest with Rs 4.5 crore per bilateral match and Rs 1.72 crore for each ICC fixture.

According to reports, Apollo Tyres bagged this deal, by outpacing companies like Canva and JK Cement.

Apollo Tyres Share Price:

Following this big announcement, Apollo Tyres stock price will be in focus in the coming days.

After market hours of September 16, Apollo Tyres' share price closed at Rs 486.80 apiece, up by 1.6% on BSE with a market cap of Rs 30,916.71 crore. The stock's 52-week high and low is at Rs 584.65 apiece and Rs 368 apiece, respectively.

About Apollo Tyres:

Apollo Tyres Ltd is an international tyre manufacturer and the leading tyre brand in India. The company has multiple manufacturing units in India and a unit each in The Netherlands and Hungary. The company markets its products under its two global brands - Apollo and Vredestein, and its products are available in over 100 countries through a vast network of branded, exclusive and multi-product outlets.