Reliance Power, an Anil Dhirubhai Ambani Group company, is launching its IPO on January 15, 2008. The company has embarked on an aggressive communication campaign in the run up to the IPO, which according to informed sources was worth Rs 25 crore and involved AGAG properties to create a buzz in the market.
Reliance Power expects to raise Rs 10,260 crore through the IPO to give shape to its plans to add up to 28,200 MW of power in the next few years. This IPO would be the largest ever public offering of equity shares in the Indian market till date.
McCann Erickson is the agency behind the campaign, while Prasoon Joshi is the creative director. The television campaign has been produced by production house Classic Films.
The brief given to the agency was to get across the message of ‘Power on, India on’ in a way that was easily understood across demographics and psychographics. Two TVCs were created as part of the campaign – one customised for urban youth, and the other for a broader mass demographic section.
The first TVC conveys the message that life has a rhythm, which is fueled by power. It is based on sound effects of normal day-to-day appliances that surround the people and synthesised with contemporary music beats. The commercial is high on energy, targeting the youth. The second TVC is a montage of shots of people using power, thus emphasising how power makes a difference to their lives in terms of fun, livelihood, entertainment, security and progress. The jingle is melodious, giving it an anthem-like feel.
Anil Ambani, Group Chairman and CEO, ADAG, in a statement said, “My father added to the adage ‘Roti Kapda aur Makan’ with his contribution in the textile business. I am fortunate enough to make one more addition and that is of ‘Bijli’ (power). This is an important occasion for Reliance ADA Group as Reliance Power would be the largest pipeline of power generation in the world in a single geography. This, I personally feel, is the beginning of the journey.”
Elaborating on the campaign, Girish Shah, Branding Head, Reliance ADAG, said, “The challenge was to market the IPO like a consumer product. Keeping the big picture of ‘Power on, India on’ in mind, the campaign goes way beyond the 30-second TV spot into print, outdoor, and radio, and leverages various Reliance ADA Group touch-points such as 250 Reliance World, 1,300 Reliance Express, 62 Adlabs Theatres, 2000 Reliance Money outlets (inclusive of franchisee) to touch its 100 million strong customer base across 15,000 towns and 4 lakh villages. Although the creative flavour was ‘Power on, India on’, the imagery showcased across media vehicles was micromanaged. For example, 40 million subscribers could download the TVC jingles as their caller tunes.”
Leveraging distribution through the vast infrastructure of Reliance Money to aid investor access, Reliance Money has a nation-wide distribution reach comprising about 125 own branches with 1,912 exclusive franchisee outlets.
The media included to give wings to the promotional campaign are 57 TV channels that comprise 15,000 spots with GECs for women and youth channels like MTV, Channel [v] and other music channels; 54 radio stations, including ADAG’s Big FM that comprise 8,000 spots; nearly 500 outdoor sites, 1,500 digital screens across retail outlets, business establishments, 60 publications (300 insertions).
The campaign for the IPO also targets women and youth, in addition to the traditional male investor base. This is probably the first time women and youth have been targetted by an IPO. The Group also used the New Year eve to break campaign on CNN-IBN exclusively.
The price band of the issue has been fixed between Rs 405 and Rs 450 per share. The issue comprises a net issue to the public of 228,000,000 equity shares and a promoters’ contribution of 32,000,000 equity shares.