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Adfactors, Vaishnavi to handle Tata Consultancy IPO.

10-June-2004
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Adfactors, Vaishnavi to handle Tata Consultancy IPO.

The speculation is finally over on who will handle the largest private sector IPO in the country. The country's largest IT company, Tata Consultancy Services (TCS), has decided to hire Mumbai-headquartered Adfactors PR, who will work jointly with Vaishnavi Corporate Communications. Though company sources, when contacted, refused to divulge the size of the IPO, the market conjecture puts it around Rs 5000 crore.

Atul Takle, Vice President, TCS, told exchange4media, "Adfactors PR will undertake all PR work related to the public issue, like preparing the financial communication, road shows and media relations. It will work in tandem with Vaishnavi Corporate Communications which is already handling our regular PR activities." For the IPO, a media center is being planned which would be jointly run by Vaishnavi and Adfactors.

Reflecting upon the reasons for picking Adfactors, Takle said, "The agency has a proven track record in handling IPOs. "They (Adfactors) are experts in the field and we wanted to make our IPO communication top notch, so we hired them."

However, Takle clarified that there were no changes as far as the media duties for IPO are concerned, "Media buying and releasing of the IPO related advertising will be done by The Media Edge, which is currently handling the media duties of TCS." Takle also stated that FCB Ulka would handle advertising responsibilities for the pre-issue corporate campaign.

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