Close on the heels of the General Motors win, Madison Media has added another large business to its kitty – Shriram Transport Finance Company Ltd (STFC), India’s largest player in commercial vehicle finance. The win comes on the back of a media pitch. The size of the business is approximately worth Rs 50 crore. It is for the first time that the business has been consolidated to a media AOR.
RK Swamy BBDO, Scarecrow, Concept and Anugrah Madison are the creative agencies handling the Shriram Transport Finance Company business.
On awarding the media business to Madison, R Sridhar, Managing Director, Shriram Transport Finance Company Ltd, said, “We have been dealing with Anugrah Madison for a very long time and have been impressed with their commitment and professionalism. With most large advertisers consolidating their spends with one media agency, we thought the time was right for us to follow that route and who better than Madison Media, which has a sterling reputation.”
Sam Balsara, Chairman & Managing Director, Madison World, added here, “Given the size of the company and its vast influence on the fortunes of the transport sector, which in turn is critical to the Indian economy, the company has maintained a low profile and needs to increase its presence amongst all stakeholders. We are confident that our substantial experience and expertise across various categories will enable us to do that in a cost effective manner. I am delighted that Anugrah Madison’s committed work for Shriram has resulted in Madison Media winning this account.”
Punitha Arumugam, CEO, Madison Media Group, said, “I am delighted that the industry now recognises us as No. 1 not just in the FMCG category, but also in the finance category. The account will be handled by Radhesh Uchil, Head of Platinum Media, Mumbai.”
Madison Media was recently in the news for winning the General Motors media AOR for a period of three years. Other clients of Madison Media include large and media savvy advertisers like Airtel, Godrej, Cadbury and Coca-Cola. The Rs 2,300-crore Madison Media Group is part of Madison World, which also has specialist units in Creative, Outdoor, PR, Rural, Retail, Mobile, Sports and Entertainment, employing over 700 communications professionals in seven cities across India.
Shriram Transport Finance Company is part of the Shriram Group, which was recently in the news with talk of Texas Pacific Group (TPG) acquiring 20 per cent equity stake in the holding company for Rs 1,000 crore, thus valuing the total group at Rs 5,000 crore. Other companies in the Shriram Group include Shriram Life Insurance Company Ltd, Shriram General Insurance Company Ltd, Shriram City Union Finance Ltd, Shriram Fortune Solutions Ltd and Shriram Insight Share Brokers Ltd.