Business
Brick trophies, a life-size pink Cadillac and a team sponsorship: Why Lego is going all in on F1
Formula 1 cars and a circuit made with Lego are displayed at the 2025 Canadian International AutoShow at the Metro Convention Centre in Toronto, Feb. 21, 2025.
Nurphoto | Getty Images
Lego is rebuilding how consumers engage with motorsport brick by brick.
In 2025, Lego kicked off a partnership with Formula 1 that brought officially licensed sets to global retail shelves and immersive experiences to races around the world. In the nearly year since launch, the collaboration has bolstered fan engagement for both brands, lead to promotional sales of Lego products and expanded the demographic reach for the toy company and the racing organization.
In August, Lego CEO Niels Christiansen touted the company’s Formula 1 sets as one of the innovations that fueled record first-half revenue and operating profit. The company, which is privately held, reported a 12% year-over-year revenue bump to 34.6 billion Danish kroner, or $5.4 billion, for the first six months of 2025.
“It is a massively growing fan base,” Julia Goldin, chief product and marketing officer at Lego, told CNBC. “It is the biggest motorsport now in terms of its fandom. … We felt that we could really tap into that and deliver something very unique.”
With Formula 1, Lego isn’t just leveraging an existing fandom, it’s expanding it, bringing underserved demographics into the world of racing and engaging new customers.
“Lego has a great reputation for picking out the right trends to become a part of, and motorsports in recent years has been on a real upswing,” said James Zahn, editor in chief of The Toy Book.
“F1, as we’ve seen, has just become a cultural juggernaut where it is attracting an audience that isn’t your typical motorsports fan,” he said. “It seems to transcend ages and interests.”
ESPN, which broadcast the 2025 F1 season in the U.S., reported record viewership numbers for the races. The Disney-owned sports network saw an average of 1.3 million viewers across its stations and platforms through the majority of the racing calendar. That was up from a previous record of 1.21 million viewers set in 2022 and up from just 554,000 in 2018, the first year of ESPN’s broadcasting deal with F1.
Next year, U.S. broadcasting rights move to Apple TV following the success of the Apple-distributed “F1: The Movie,” which hit cinemas in June.
F1 Academy Lego car model during previews ahead of the F1 Grand Prix of Las Vegas on Nov. 19, 2025 in Las Vegas.
Hector Vivas | Getty Images Sport | Getty Images
In expanding its catalog of products — introducing meticulously designed F1 car brick sets, complete with team-accurate liveries — Lego has built gateways into the brand for newcomers.
“At the heart of it was understanding our audience’s passion points,” Goldin said. “When we choose to go into a partnership, could we see ourselves doing something unique that would offer real value … we felt like we had a real opportunity to deliver experiences that they would really love.”
The F1 portfolio included products for Lego’s Duplo line for preschool children, traditional sets for casual builders and Lego Technic sets for more advanced builders.
Kick Sauber driver Nico Hulkenberg celebrates with the Lego trophy on the podium after finishing third in the British Grand Prix at Silverstone Circuit, Northamptonshire, July 6, 2025.
Bradley Collyer | Pa Images | Getty Images
Lego was also present at F1 races during the season, hosting in-person activations that included functional, life-size Formula 1 cars and even crafting trophies out of bricks for podium finishers of the British Grand Prix at Silverstone.
At the Las Vegas Grand Prix in November, the top three drivers were chauffeured to a media availability area following the race in a life-size pink Lego Cadillac, a nod to the Cadillac F1 team that’s joining the grid in 2026.
Terry Crews delivers the top three finishers to the podium in a pink Lego Cadillac at the F1 Grand Prix of Las Vegas, including race winner Max Verstappen of the Netherlands and Oracle Red Bull Racing second-place finisher Lando Norris of Great Britain and McLaren (later disqualified) and third-place finisher George Russell of Great Britain and Mercedes AMG Petronas F1 Team, Nov. 22, 2025 in Las Vegas, Nevada.
Mark Sutton – Formula 1 | Formula 1 | Getty Images
With the 2025 season wrapped, Lego is already building into next year.
Building a new future
“Lego is one of our dream partners,” said Susie Wolff, managing director of F1 Academy, an all-female racing league under the broader F1 umbrella.
“When they joined Formula 1, I immediately reached out to Julia [Goldin], the [chief product and marketing officer], and said, ‘Listen, could we explore doing something together with F1 Academy?'” Wolff told CNBC. “There’s just so many synergies between what they’re trying to do and what our main mission is.”
F1 Academy held its inaugural season in 2023. The division was established to address the lack of female drives in the F1 series and aims to develop young female drivers and prepare them for higher levels of competition.
“We’re trying to break down the preconceptions of motorsport being a male-dominated environment,” Wolff said, noting Lego has similarly made strides to promote inclusivity with its brick sets.
As part of the ongoing relationship between the two brands, Lego has signed on as a team sponsor for an F1 Academy car starting in 2026. Behind the wheel is Esmee Kosterman, a 20-year-old Dutch driver.
F1 Academy Lego livery reveal during previews ahead of the F1 Grand Prix of Las Vegas at Las Vegas Strip Circuit in Las Vegas, Nov. 19, 2025.
Hector Vivas | Getty Images Sport | Getty Images
Lego’s Goldin said while the F1 Academy partnership is an extension of the existing racing partnership, “they’re doing it in a unique way, because they are actually partnering up to support a life-size car and the driver.”
“That’s a very important element of bringing more attention and kind of underscoring the credibility and authenticity of women participating in motorsports and, importantly, for their parents to see the opportunity [and] potential for them to be engaged in the sport,” Goldin said.
Zahn of The Toy Book described the collaboration between Lego and Formula 1, particularly the F1 Academy, as a “perfect partnership.”
“[The] Female motorsports fan has always been there, but they haven’t necessarily been embraced on the consumer product side of things,” he said.
Wolff and Goldin both noted that one of the fastest-growing segments of the Formula 1 fan base is women.
“We are tapping exactly into the the trend of this fandom and we’re adding value to the partner, as well,” Goldin said. “We see from our data that not only are we engaging more F1 fans with the Lego brand, but vice versa. There are more Lego brand fans that are now becoming fans of Formula 1.”
Business
Insolvency ruling: CoC cannot alter approved resolution plan or reallocate dissenting creditors’ funds, says NCLAT – The Times of India
The insolvency appellate tribunal NCLAT has ruled that the Committee of Creditors (CoC) cannot modify an approved resolution plan to reallocate funds meant for dissenting financial creditors, reaffirming limits on the exercise of commercial wisdom after a plan has been cleared, PTI reported.Dismissing an appeal filed by Bank of Baroda in the insolvency proceedings of Reliance Communications Infrastructure Ltd (RCIL), a two-member bench of the National Company Law Appellate Tribunal said that once a resolution plan is approved, the assenting members of the CoC cannot alter its financial distribution framework.“It is true that the CoC with commercial wisdom can take a decision regarding different aspects of the plan, including manner of distribution, but once the commercial wisdom has been exercised by approving the resolution plan in meeting, the modification of the said distribution mechanism, which is impermissible, cannot be saved in the name of commercial wisdom of the CoC,” NCLAT said in its order.The appeal arose from the insolvency resolution of RCIL, where the National Company Law Tribunal (NCLT) had approved the resolution plan submitted by Reliance Projects & Property Management Services Ltd (RPPMSL), a subsidiary of Jio. The plan was approved by 67.97 per cent of the CoC by vote share on August 5, 2021.While Bank of Baroda voted in favour of the plan, lenders including IDBI Bank and State Bank of India dissented. The plan was subsequently placed before the Mumbai bench of the NCLT for approval.Bank of Baroda later approached the NCLT seeking directions to convene a CoC meeting to consider reallocation of proceeds under the approved resolution plan, particularly in relation to a loan to Reliance Bhutan. Acting on this, the NCLT on October 17, 2023 directed the resolution professional to convene a CoC meeting.At the meeting held on October 27, 2023, a resolution proposing reallocation and reassignment of the Reliance Bhutan loan was passed with a 67.55 per cent majority, though IDBI Bank and SBI objected to the move.On December 19, the NCLT approved the resolution plan as originally proposed by RPPMSL. IDBI Bank subsequently challenged the October 27, 2023 CoC decision, arguing that the reallocation of proceeds violated the approved resolution plan.The NCLT held that the CoC could not alter the financial layout relating to the entitlement of financial creditors once the resolution plan had been approved. It also noted that the Reliance Bhutan loan, which was to be assigned to assenting financial creditors under the plan, could not be reassigned to dissenting lenders through a subsequent CoC decision.In its October 10, 2025 order, the NCLT ruled that the approved resolution plan could not be modified in this manner. Bank of Baroda challenged this decision before the NCLAT.Upholding the NCLT’s view, the appellate tribunal said, “The Adjudicating Authority in the impugned order after considering all relevant clauses has rightly come to the conclusion that the decision of the CoC dated 27.10.2023 is contrary to the approved resolution plan and cannot bind the dissenting financial creditors.”“We are in full agreement with the view taken by the adjudicating authority as noted above. The adjudicating authority did not commit any error in allowing the plea filed by the IDBI Bank. We do not find any good ground to interfere with the decision of the adjudicating authority,” NCLAT added, dismissing the appeal.
Prayagraj, Uttar Pradesh: Taking a major step towards strengthening a clean and green public transport ecosystem, six electric buses were flagged off from the Leader Road Depot office in Prayagraj to Varanasi, Ayodhya, Kanpur and Lucknow. These new electric buses will offer passengers a safe, comfortable, and reliable travel experience, while also playing an important role in controlling pollution.
According to officials, the new electric buses will help reduce air and noise pollution. They will lower the dependence on diesel fuel and also help cut fuel expenses. From an environmental perspective, this move takes forward the state government’s clean energy policy.
The introduction of electric buses on the Prayagraj-Varanasi, Ayodhya, Kanpur, and Lucknow routes will provide passengers with a more affordable, comfortable, and safe travel option. Thousands of passengers travel daily on these routes.
The roadways department believes that operating electric buses will make public transport modern and more sustainable in the long run.
Developing a modern and green transport system between religious and cultural cities like Prayagraj, Varanasi, and Ayodhya has been a priority for the government.
The new electric buses will promote eco-friendly travel while connecting these important cities. This initiative is also expected to give a boost to tourism.
Business
Apollo Techno Industries IPO Last Day: Issue Receives 50.63x Subscription; GMP Rises To 9.23%
Last Updated:
Unlisted shares of Apollo Techno Industries are trading at Rs 136 apiece in the grey market, which is 4.6% premium over the issue price of Rs 130, indicating weak listing.
Apollo Techno Industries IPO.
Apollo Techno Industries IPO GMP: The initial public offering (IPO) of Apollo Techno Industries Ltd (ATIL) has been closed today, Friday, December 26. The price band of the Rs 47.96-crore IPO has been fixed in the range of Rs 123 and Rs 130. On the final day of bidding on Friday, the IPO received a total of 50.63x times subscription, garnering bids for 12,42,53,000 shares as against 24,54,000 shares on offer.
Its retail category got a 44.81x subscription, while its non-institutional investor (NII) quota got a 98x subscription. Its qualified institutional buyer (QIB) category has received a 25.26x subscription.
ATIL is a manufacturer specialising in trenchless technology and foundation equipment for the construction industry
Apollo Techno Industries IPO GMP Today
According to market observers, unlisted shares of Apollo Techno Industries Ltd are currently trading at Rs 142 apiece in the grey market, which is a 9.23 per cent premium over the issue price of Rs 130. It indicates a weak listing. Its listing will take place on December 31, Wednesday.
The GMP had stood at 4.62 per cent in the morning.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Apollo Techno Industries IPO: More Details
The Apollo Techno Industries Limited IPO is a book-built issue worth ₹47.96 crore, comprising only a fresh issue of 0.37 crore equity shares. There is no offer-for-sale component in the issue.
The IPO opened for subscription on December 23, 2025, and will close on December 26, 2025. The basis of allotment is expected to be finalised on December 29, 2025, while the shares are scheduled to list on the BSE SME platform on December 31, 2025, subject to approvals.
The price band for the issue has been fixed at Rs 123 to Rs 130 per share. The lot size is 1,000 shares. Retail investors are required to apply for a minimum of 2 lots (2,000 shares), translating into an investment of Rs 2.60 lakh at the upper end of the price band. For HNIs, the minimum application size is 3 lots (3,000 shares), amounting to Rs 3.90 lakh.
Beeline Capital Advisors Pvt Ltd is the book running lead manager to the issue, while MUFG Intime India Pvt Ltd is acting as the registrar. The market-making duties will be handled by Spread X Securities Pvt Ltd.
Apollo Techno Industries reported strong financial growth in FY25. The company’s revenue rose 44 percent, while profit after tax (PAT) surged 327 percent for the year ended March 31, 2025, compared with the previous financial year.
Incorporated in 2016, Apollo Techno Industries operates in the manufacturing and technology space, with a focus on equipment used in the construction and infrastructure sector.
The company specialises in trenchless technology and foundation equipment, catering to complex construction requirements. Its product portfolio includes Horizontal Directional Drilling (HDD) rigs, Diaphragm Drilling Rigs, Rotary Drilling Rigs, along with associated spare parts.
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December 26, 2025, 10:51 IST
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