Shriram Transport Finance Company Limited (STFC), India’s largest player in commercial vehicle finance has appointed Madison Media as its Agency on Record (AOR). The account is estimated to be worth Rs. 50 crore.
Confirming the news, R Sridhar, Managing Director, Shriram Transport Finance Company, said, “We have been dealing with Anugrah Madison for a very long time and have been impressed with its commitment and professionalism. Most advertisers consolidate the spends with one media agency and following the same route, Shriram has hired Madison Media, which has a sterling reputation.”
Sam Balsara, chairperson and managing director, Madison World spoke about the company and the account, “Given the size of the company and its vast influence on the fortunes of the transport sector, which in turn is critical to the Indian economy, the company has maintained a low profile and needs to increase its presence amongst all stake holders. We are confident that our substantial experience and expertise across various categories will enable us to do that in a cost effective manner.”
AOR refers to hiring a firm on an annual basis for areas particularly advertising, media and public relations.