Religare Enterprises Ltd (REL) is on the lookout for a media agency to handle its media buying and planning business. Currently, Mumbai-based NAC Advertising is handling the account. It is learnt that four leading agencies – MediaCom, Mindshare, Madison and Maxus – are involved in the pitch.
Media spend on the business could not be ascertained at the time of filing this report. No official confirmation was available either, however, sources close to the development have confirmed the pitch call.
It may be recalled that last month Religare had selected Ogilvy as its communication and brand partner. Ogilvy’s creative responsibilities include looking after all companies that fall under the Religare umbrella, including Religare Voyages, Religare Technova and Religare Macquarie. The healthcare business like SRL Diagnostics and Religare Wellness is being looked after by Arms Communications.
The group has a client base of one million and growing, across the retail, wealth and institutional spectrums. Recent growth and established businesses are testimony to Religare’s commitment towards becoming the investment gateway of India and has also become a diversified financial services conglomerate.