Hindustan Petroleum Corporation Ltd (HPCL) is on the lookout for a custodian for its advertising duties. The corporate has invited 11 to 12 agencies for the business, which is presently with JWT and Mudra. The account size of the total business is in the region of Rs 60-70 crore. The company is looking for an empanelment again of two to three agencies.
Sources in the know of the situation inform that even though various details around the pitch processes are not confirmed yet, the processes will begin in a couple of weeks. It is also clear that HPCL is looking at non-aligned agencies. Consequently, the likes of Lowe (BPCL), Saatchi & Saatchi (BPCL), Euro RSCG (BPCL), Contract (Shell) Rediffusion DY&R (IOC) and Leo Burnett (IOC) are out of the pitch process.
HPCL is the result of a convergence of four companies - ESSO, Lube India, Caltex Oil Refining India and Kosan Gas Company. After a few name changes, the group was finally christened as HPCL in 1974 and since then, the business has spread across various fronts relating to petroleum products.