Leading integrated financial communication group Concept Communications Ltd has bagged the coveted account for handling the divestment of Maruti Udyog Limited.
The mandate for one of the most eagerly awaited and contested financial accounts of the year includes advertising across all media, public relation management and extensive on-ground activities, including road shows and conferences, according to a release issued in Mumbai by the communications company.
Commenting on the development, Concept Communication's Managing Director Vivek Suchanti said that his company was pleased to get this account as it underlines the communication company's ability to successfully manage a large public issue that will help set a benchmark for the future.
The government is planning to divest 25 per cent, or 3.6 million shares, of its holding in Maruti in the domestic market. It is hoping to raise Rs 700 to Rs 800 crore (Rs 7-8 billion) through the sale offer.
The offer is expected to hit the market shortly.
UNI