MAM
Dentsu snaps up Brian Tellis’ Fountainhead; to merge it with psLIVE
MUMBAI: Dentsu Aegis Network has acquired Indian event and experiential agency Fountainhead Entertainment founded by Brian Tellis.
It is envisaged that in 2016, Dentsu’s existing experiential offering of psLIVE, with 86 people in India, will be merged with Fountainhead, making the combined agency India’s largest experiential and activation agency business.
As per industry sources, the acquisition is pegged in the region of Rs 350 – 400 crore.
Fountainhead’s expertise and presence within the fastest growing sector of India’s advertising industry adds scale to Dentsu Aegis Network’s growing presence within the country.
Founded by chairman Tellis, managing director Neale Murray and director Otis D’Souza, Fountainhead was later joined by co-directors Pradeep Guha, VG Jairam and Owen Roncon.
Post-acquisition, Fountainhead will continue to be led by Tellis. The current management team will also continue as is. Tellis will report into Dentsu Aegis Network South Asia chairman and CEO Ashish Bhasin.
This acquisition will be one of the largest in India within this sector.
Established in 1994 and now with more than 205 experiential specialists, Fountainhead is headquartered in Mumbai and has offices in Delhi and Bangalore.
Fountainhead supports its client base of more than 100 on all types of events, digital initiatives, product launches, brand activation and meetings, incentives, conferences and exhibitions. The five brands within the business are: Fountainhead Events, Oranjuice Entertainment, Fountainhead Activations, Fountainhead Corporate Journeys and Fountainhead Digital. Together, they deliver in excess of 350 events annually.
Dentsu Aegis Network Asia Pacific CEO Nick Waters said, “Fountainhead’s reputation in the event and activation market, and their extensive experience in both music and sports marketing, complements and strengthens our experiential offering in one of the region’s most exciting markets. This move represents a further step in our continued investment programme in the Indian market. We welcome Brian and the wider team to the network.”
Bhasin said, “As the fastest growing network in India, we are continuing to expand our portfolio of diverse specialisations available to our growing client base. Fountainhead’s creative quality and reputation in the market make it the perfect addition to Dentsu Aegis Network India. Our unique ‘One P & L’ philosophy will help us bring their expertise to all Dentsu Aegis Network clients. This is another big step forward in helping us achieve our mission of being the second largest agency group by end 2017 in India, overturning for the first time the existing ranking which has historically been in place for over 80 years in India.”
Tellis added, “Our vision is to deliver world class experiences to our stake holders. To set benchmarks in delivery through cutting-edge creativity, innovation, value pricing and practices and processes. We are thrilled to join Dentsu Aegis Network. The sheer dynamism of the group will open up opportunities for us. Our values are well aligned and the potentially combined entity of Fountainhead and psLIVE will become the most comprehensive experiential offering in India. We are very excited about this opportunity and the growth potential it offers. Fountainhead, a full service experiential agency, will now start to align with an enviable spectrum of brands through the Dentsu Aegis Network.”
Fountainhead will retain its identity and branding, working alongside the other specialist Dentsu Aegis Network brands locally: Carat, iProspect, Isobar, Posterscope, Vizeum, Amnet, Dentsu media, Dentsu branded agencies (Dentsu Creative Impact, Dentsu Marcom, Dentsu Communications, Taproot Dentsu, Dentsu Webchutney), WATConsult and Milestone Brandcom.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
