IDBI Group retains Maxus; brings Mudra Max for OOH & BTL

The IDBI Group, which comprises IDBI Bank, the mutual funds division, and IDBI Capital Market Services, had called for a creative and media pitch in March. The group has finalised its media agencies and one of the creative agencies. The size of the media business is said to be Rs 70-75 crore.

The IDBI Group, which comprises of IDBI Bank, the mutual funds division, and IDBI Capital Market Services, has retained Maxus, while bringing on board Mudra Max to handle its media duties. While Maxus will continue to handle the duties for television, print and radio, Mudra Max will handle the group's out of home (OOH) and below the line (BTL) businesses.

The overall size of the business is said to be in the range of Rs 70-75 crore.

IDBI Group retains Maxus; brings Mudra Max for OOH & BTL

The development was confirmed by a senior official in IDBI, who says, "The pitch saw participation from many agencies, names of which cannot be divulged, of which Maxus was retained. Mudra Max replaced Ogilvy Landscape as the agency to handle OOH and BTL media accounts."

Earlier, afaqs! had reported that this was the first time that the group had called for an official pitch for its media duties. Maxus has been handling the media duties for the account for the past six years. It was first hired through Bates and later, through Ogilvy India.

Meanwhile, the group had also called for a creative pitch at the same time to hire three agencies for each category. While one agency will take care of the creative services for the IDBI Group brand and its select product communications, the second agency will provide creative services for select product communications. The third agency will provide services to the group for statutory ads and product ads. Out of these, the second creative agency has been finalised.

Adfactors Advertising has won the duties to handle the creative services for select product communications through a multi-agency pitch. Meanwhile, the hunt for the other two agencies is still on and it will take another month for the financial services brand to reach a conclusion.

For the record, the IDBI Group includes IDBI Bank, IDBI Capital Management Services, IDBI Intech, and IDBI Assets Management.

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