It is all due to the huge success of the IPL that Pepsi has gone all out to shell such a huge amount, as it is for sure going to reap lot of benefits to the company. Various big companies were expected to fight the bid, such as Bharti Airtel, Vodafone, Idea, but to everyone's surprise, it was only Airtel which bid for 316 crores, reported NDTV.
With IPL having a global appeal, Pepsi can use the league as a vessel to market their products. It is a wise move by Pepsi, who with its wide range of products is going to benefit a lot, as it was stated in the tender invitation that the company, which wins the title sponsorship right would be given added services, which includes a number of marketing and branding benefits. It would be no surprise, if this is what must have attracted Pepsi to offer such money.
The IPL, which has seen a bit of a dip in the recent years, as compared to its initial first three years would expect Pepsi to come up with different strategies so as to bring back the fans into the ground. Pepsi has been closely associated with the youth of the country, as their recent 'Youngistaan' campaign suggests and it would not be a surprise if they come up with new campaigns for IPL, which would attract the youngsters towards the championship.