Apar Industries Limited announced it has renewed its endorsement agreement with popular film actor Sonu Sood for its cable and wire products. The company also extended its contract with Everest Brand Solutions Private Limited to manage the actor’s brand ambassador service. The renewed agreements will be in effect until March 31, 2025.
The shares of Apar Industries Limited were trading at ₹8,745, up by ₹88.35 or 1 per cent, on the NSE at 3 pm.
The agreements do not include special rights such as appointment of directors or restrictions on changes to the capital structure. Furthermore, there is no conflict of interest and the agreements do not fall under related-party transactions.
Apar Industries, which operates in the electrical and metallurgical sectors, said the renewals were part of its routine business operations aimed at strengthening its market presence through strategic endorsements.