MAM
Ketchum acquires majority stake in Sampark PR
MUMBAI: Ketchum, Omnicom Group’s public relations unit, has acquired a majority stake in Indian communications agency, Sampark PR.
Bela Rajan and NS Rajan, who founded Sampark PR in 1994, will continue to lead the India business as director and managing director and will retain a significant holding in the agency going forward.
The leadership team of Bela Rajan, NS Rajan and managing partner Ajay Sharma will continue to manage the day-to-day operations of the agency in India as Sampark PR will now operate as Ketchum Sampark.
Sampark PR has offices across Mumbai, New Delhi, Kolkata, Chennai, Bangalore, Pune and Hyderabad and boasts a network of 80 associate offices that extend throughout the 25 states.
“Today marks another important milestone for Ketchum as we continue to implement our global vision of providing consistently excellent communications service to our clients in the key business and communications markets where they operate,” said Ketchum senior partner and CEO Ray Kotcher. “Our investments over the past six months, in Russia, China and now India, are predicated on this strategy and fortify the foundation we have in place for our clients and our people.”
The move will expand Ketchum’s presence in South Asia, complementing Ketchum’s network in the Asia-Pacific region which includes Greater China, Australia, Indonesia, Japan, the Philippines, Singapore, South Korea and Thailand.
Ketchum had, last year, completed merger with Pleon to form Ketchum Pleon in Europe, creating a diversified communications consultancy in the region.
In addition, it also established a joint venture in the Middle East and North Africa called Ketchum Raad Middle East and a new exclusive affiliate relationship in South Korea with local market leader Prain.
Ketchum senior partner and CEO of international operations Jon Higgins said, “India occupies a powerful place in the world economy today. With Sampark, Ketchum has acquired one of the most respected PR businesses in India. Ketchum has worked closely with Sampark’s leadership team for some time now, and we have tremendous respect for their people and business. We are eager to put our enhanced partnership on a path of even greater possibility for our clients.”
As part of the transaction, in addition to Rajans, the India operation’s board of directors will include Higgins, Ketchum senior partner, COO and CFO Robert Lorfink, and, Diversified Agency Services (a division of Omnicom Group) chairman and CEO Tom Harrison.
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.
