We are open to a partnership: Lara Balsara Vajifdar on Madison stake sale

Amid growing speculation that Madison World is in talks with global media agencies to sell a majority stake in its advertising business, its Executive Director Lara Balsara Vajifdar has told exchange4media that “nothing concrete has happened”.

Addressing the reports that global advertising giants Publicis Groupe and Havas Network are in discussions to acquire the stakes in Madison World, Lara emphasised that while there has always been interest in the agency over the years, the current reports are purely speculative.

"The reports that have come in some newspapers are purely speculative, and nothing concrete has happened. There has always been interest in Madison over the years.

“We have been open to a partnership. But the terms have to be appropriate and be in the best interest of our clients and employees and help future-proof Madison,” she told exchange4media.

Sources say that Madison, the independent agency led by Sam Balsara, is considering divesting a portion of its business as part of a strategic move.

According to a report, Balsara had stated that the company has “always been open to collaborations that strengthen Madison” and that any potential partnership must align with Madison’s long-term goals and contribute to its future sustainability.

e4m reached out to Publicis Groupe and Havas Network, but no one has responded to the reports or provided any official comment.

Madison World’s legacy

Founded in March 1988, Madison World has established itself as a leading independent advertising agency in India, operating across various segments of the marketing and communication industry. The company specializes in media planning and buying across digital, television, print, radio, cinema, outdoor, and activation. Additionally, it has a strong presence in public relations, creative advertising, and sports marketing.

With offices in Mumbai, Delhi, Bengaluru, Chennai, Kolkata, and Hyderabad, Madison has built a diversified portfolio of services. The agency operates multiple verticals, including Loop for creative advertising, Madison PR for public relations, Mates for entertainment marketing, and PMG Sports for sports marketing.

Past attempts at stake sale

This is not the first time Madison World has explored selling a stake in its business. Reports suggest that the agency had previously attempted to sell a 75% stake in its media buying and outdoor advertising division. However, the deal did not go through.

If the ongoing negotiations with Publicis Groupe or Havas Network materialize, it could mark a significant shift in India’s advertising landscape. A successful acquisition would give a global player a stronger foothold in the country’s evolving media and advertising industry, while Madison could leverage the partnership to expand its capabilities and scale its operations.