PepsiCo has won the Title Sponsorship Rights of the IPL for the next 5 seasons(2013-17) for Rs 396.8 crore.
PepsiCo's bid was at almost 25% premium over the minimum bid amount and some 20% higher than the only other bidder, Bharti Airtel.Airtel had offered Rs.316 crores in the bid for the title sponsorship.
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