Shree Renuka Sugars Ltd., a new sugar manufacturing company started by a first generation entrepreneur took Pressman on board to build a national profile for the company as it prepared to go public with an IPO. The challenge was to create a strong awareness for this unknown company and create interest among the investing community. Pressman also had to contend with an environment where there was a widely held belief that equity investment in sugar companies was not a particularly attractive proposition.

A key component of the strategy was to emphasise the locational and technological advantages of the company and focus on key issues like scale of operation, integrated nature of facilities which included co-generation using bagasse as well as the flexibility to produce ethanol. Several unique features like equity participation by over 10,000 farmers were used to draw attention to this dynamic and progressive organization. An important element of the strategy was to build relationships with key opinion makers from the analyst and media communities.

Pressman implemented a media relations programme which included a proactive and reactive Press Office, building relationships with key journalists through briefings with the Managing Director and generating news and stories. These included imaginative looks at topics such as use of ethanol as a fuel in automobiles (the Brazilian model serving as an example), equity participation by sugarcane growers (who constituted a key element in the company’s success as they provided the raw material), farsighted initiatives of the company like providing advice to farmers to improve yield, importance and the impact of the emerging global carbon credit regime and several others. The analyst relations programme included organizing analyst meets and briefings with key analysts, a seminar with a leading global expert on the sugar industry and panel discussions on business television programmes.

A presentation on the company’s strengths and business model was sent out to around 500 analysts and journalists.

The media coverage was truly high quality and extensive. Over a period of few weeks, Shree Renuka Sugars became a familiar name in the corporate and industry circles. A few features in Times of India (circulation over 2 million copies) and top tier business magazines like Business India and Business World helped in building a national profile. The Company’s IPO was a huge success being oversubscribed many times over.

Pressman’s continues to assist the company with media relations and investor relations programmes. Shree Renuka has rapidly grown into an icon in the Indian industry and its savvy and articulate managing director is one of the most sought after personalities in the Indian sugar industry for quotes and guest speaker slots. The company continues to enjoy overwhelming analyst following and enjoying one of the highest PE multiples in its sector.