Adfactors bags PR mandate for Coal India IPO
The Government has appointed Adfactors PR as the communications consultant for Coal India Ltd’s Rs 12,000-crore Initial Public Offer (IPO), which is expected to hit the market in October.
The Government has appointed Adfactors PR as the communications consultant for Coal India Ltd’s Rs 12,000-crore Initial Public Offer (IPO), which is expected to hit the market in October.
The win comes on the back of a multi-agency pitch that saw the participation of Concept, Pressman Advertising, Sobhagya Advertising, Raka Advertising, Hanmer Advertising and Dentsu Marcom, besides Adfactors.
The Department of Disinvestment had invited the PR companies to handle the external communications in the run-up to the IPO, and over half a dozen companies were called for presentation. Earlier, the Government had appointed six merchant bankers – Citigroup, Deutsche Bank, Morgan Stanley, Enam, Kotak Mahindra and DSP Merrill Lynch – for managing the IPO.
The Cabinet had approved the divestment of 10 per cent of the Government’s holding in Coal India Ltd through a public offer. The Centre currently holds 100 per cent equity in the company.
