MAM
AAAI to meet TAM and IBF this week
MUMBAI: With NDTV‘s lawsuit against television ratings provider TAM Media raising concerns among the industry affiliates, the Advertising Agencies Association of India (AAAI) and the Indian Society of Advertisers (ISA) have decided to meet with senior executives of the television ratings agency on 16 August.
Speaking to indiantelevision.com AAAI president and Leo Burnett chairman and CEO of India subcontinent Arvind Sharma said: “In the (current) environment where all has been reported about the NDTV-TAM case, we want to understand directly from TAM what the facts are. If there are genuine reasons to be concerned, and we are not prejudging that, ww will have to discus on what action can be taken.”
Sharma also pointed out that a meeting with the Indian Broadcasting Foundation (IBF) is planned this week. “We are also trying to get together with the IBF urgently and it hopefully happen this week to discuss the BARC issue,” he added.
Star India CEO and IBF president Uday Shankar had earlier stated that AAAI and ISA are slowing the progress on BARC. In response, Sharma had said that the two advertising bodies were waiting for the IBF to respond to the draft document (incorporating memorandum and articles of association) sent to the IBF a while back.
The AAAI, ISA and the IBF are stakeholders in the Broadcast Audience Research Council (BARC). While the IBF holds 60 per cent stake in BARC, AAAI and ISA equally share the remaining 40 per cent.
Brands
Oyo parent Prism appoints former Sebi chief Ajay Tyagi to Board
Former market regulator joins Prism to strengthen governance for IPO
NEW DELHI: Prism, the parent entity of Oyo, has appointed former Sebi chairman Ajay Tyagi as an independent director, as the hospitality firm gears up for its planned Rs 6,650 crore initial public offering (IPO).
Tyagi, a 1984-batch IAS officer, served as chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022. His appointment is aimed at strengthening the company’s governance framework and providing strategic oversight as it moves closer to a public listing.
He joins a high-profile board that already includes several prominent names from global business and policy circles. These include Troy Matthew Alstead, former CFO and group president of Starbucks; Aditya Ghosh, co-founder of Akasa Air; Deepa Malik, paralympic athlete and Padma Shri awardee; William Steve Albrecht, professor of accountancy at Utah State University; and Bejul Somaia, partner at Lightspeed Venture Partners.
Prism founder Ritesh Agarwal, said Tyagi’s experience in capital markets regulation and public-institution stewardship will be critical as the company scales operations and enhances long-term accountability.
The company recently filed preliminary papers with Sebi to raise Rs 6,650 crore through a confidential route. Market sources estimate its valuation will be in the range of $7 billion to $8 billion.
Over the course of his career, Tyagi has held senior roles in the ministry of finance, where he oversaw investment policy and financial-sector reforms. His induction to the Prism board signals a renewed focus on aligning the company’s internal standards with the stringent requirements of public markets as it advances toward its IPO.
