Tata Financial Services meets agencies; ad spends pegged at Rs 40-50 crore

The process is underway in Mumbai, where the company is based.

Tata Financial Services has initiated a creative pitch. Highly placed industry sources close to the development have confirmed the news to afaqs!. Further, sources inform that the development is in sync with the company's plan to invest in thousands of non-bank owned ATM machines.

The pitch is specifically for this initiative and the selected creative agency will be required to create an advertising campaign to promote these ATMs across regions, including smaller towns and cities in India.

The ad spends are pegged at Rs 40-50 crore, as per market estimates. The media mix for the forthcoming ad campaign is slated to include multiple communication platforms including TV.

The process that began a few days ago is currently underway in Mumbai and several leading creative agencies are already in conversation with the brand authorities.

A division of Tata Sons, Tata Financial Services is an in-house financial consultancy that carries out short term and long term financial planning for Tata's group companies. Tata Financial Services functions as the corporate finance advisory wing for all these group companies. It Tata Group companies with negotiations with multilateral financial institutions and international banks, arranges foreign currency funding for projects, advises the Tata Group on financial structuring of companies on issues pertaining to mergers, acquisitions, divestitures and debt, amongst other such functions.