Indian Oil calls fresh pitch to empanel two media agencies for three year mandate
The PSU giant currently works with Madison World for television and outdoor, and Lodestar UM for digital, print, cinema and radio.
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Indian Oil Corporation Limited (IOCL), India’s largest public sector enterprise in the oil and gas sector, has invited Expressions of Interest (EOI) for the empanelment of media agencies to handle its branding, marketing, and communication campaigns. IOCL has announced that two agencies will be shortlisted for a three-year mandate, with the possibility of an extension by one additional year, subject to satisfactory performance.
Currently, the Indian Oil mandate is split across two clusters. Madison World manages Cluster 1, covering television and outdoor advertising, while IPG Mediabrand’s Lodestar UM handles Cluster 2, which includes digital, print, cinema, and radio.
The agency commission for media activities is structured as follows: For non-DAVP releases, which include television, outdoor, radio, cinema, and print, the media commission is 2.30 percent of the net media spend. For DAVP releases across the same media categories, the commission is 1.30 percent of the net media spend. In the case of digital media buying, the commission payable is 2.50 percent of the net media spend.
The last date for submission of bids is September 15, 2025, with the bids scheduled to be opened the following day. The Branding Department at Indian Oil’s Marketing Head Office in Mumbai will supervise the empanelment process.
The empanelment process will involve multiple stages, beginning with pre-qualification screening, followed by pitch presentations, and culminating in a price bid that will be used to establish a Standard Rate Card. The selected agencies will be responsible for planning and executing advertising campaigns across television, print, radio, cinema, outdoor, and digital platforms, in addition to managing influencer-driven campaigns, social media amplification, vernacular content dissemination, and search engine optimization.
They will also be tasked with conducting audience research and competitor analysis, designing integrated media strategies, and safeguarding IndianOil’s brand reputation during crises.
Indian Oil has mandated that participating agencies must be accredited with professional bodies such as the Advertising Standards Council of India (ASCI), the Indian Newspaper Society (INS), or the Advertising Agencies Association of India (AAAI). Agencies currently servicing competing clients in the fuels, lubricants, or petrochemicals categories will be required to sign a strict Non-Disclosure Agreement.
Currently, Madison World and IPG Mediabrand’s Lodestar UM handle Indian Oil’s media duties, but with the fresh bidding process, the company is opening the door for new contenders. Industry sources indicate that several leading media agencies have already shown interest, making the competition for the high-value government-linked account especially intense.
