Crayons Advertising files DRHP with NSE Emerge to go public
2 min read . Updated: 20 Feb 2023, 03:13 PM IST
Premium- Crayons Advertising Limited, India's leading ad agency, stated today that it has filed it's Draft Red Herring Prospectus (DRHP) with NSE Emerge for its initial public offering (IPO).
Crayons Advertising Limited, India's leading ad agency, stated today that it has filed it's Draft Red Herring Prospectus (DRHP) with NSE Emerge for its initial public offering (IPO). The first major advertising agency in India to go public, Crayons Advertising, has announced that it aims to invest in cutting-edge technology to offer comprehensive ad-tech solutions.
Through the book-building process, the company aims to issue 64.30 lakh equity shares with a face value of Rs. 10 apiece. The issue's book-running primary manager is Corporate Capital Ventures. While Skyline Financial Services serves as the issue's Registrar.
The proceeds from the initial public offering will be used in building infrastructure and cutting-edge technology for expansion (Rs. 15.28 crore) and funding working capital requirements (Rs. 14.50 crore), said Crayons Advertising in a statement.
Crayons Advertising, a three-and-a-half decade-old, award-winning, and integrated company that offers a high-end ecosystem with an end-to-end ad-tech communication solutions platform for advertising media services, is promoted by Kunal Lalani. Its offerings include brand strategy, innovative solutions, activations and events, digital media planning and purchasing, and conventional media planning and buying.
Expert Market Research estimated the Indian advertising market to be worth close to Rs. 67,000 crore in 2020. During the projected period of 2022–2027, the market is anticipated to grow at a CAGR of 11% and reach Rs. 1,25,300 crore by 2026. According to a recent analysis by Dentsu International, the Indian advertising sector would continue to have the highest growth worldwide over the next two years. With a growth rate of 16% in 2022 and a rise in advertising spending of 15.2% in 2023 and 15.7% in 2024.
The company recently declared that it has been awarded major contracts from organisations including TATA SONS, National Skill Development Corporation, Indian Oil Corporation, TATA Croma, and Bank of Baroda. The mandate of the National Skill Development Corporation is to transform the brand notion and strengthen the connection with youth, said Crayons Advertising in a statement.
Crayons recently won the social media mandate for TATA SONS among the TATA Group Companies. The firm has handled and carried out several high-profile campaigns for the TATA Group in the past few years. In order to raise awareness and encourage participation, Crayons also collaborated on the Tata Mumbai Marathon campaign. Additionally, Crayons Advertising was designated by TATA last year to lead the historic Air India transition campaign "Wings of Change" and manage the creative mandate for TATA Croma.
With offices in Delhi, Mumbai, Chennai, Kolkata, and Lucknow, Crayons Advertising Limited is a fully functional, cutting-edge advertising solution. In 1986, Mr. Lalani, the company's founder, began his journey into media services advertising by proposing ad assignments to well-known companies.