Crayons Advertising files IPO draft papers with NSE Emerge
1 min read . Updated: 21 Feb 2023, 05:32 PM IST
PremiumThe company, in a statement, said that proceeds from the initial public offering will be used in building infrastructure and technology for expansion -- about ₹15 crore will be used in each vertical
New Delhi: Crayons Advertising Ltd, an advertising agency, has filed Draft Red Herring Prospectus (DRHP) with NSE Emerge for its initial public offering (IPO). NSE Emerge is an initiative by the National Stock Exchange for small and medium-sized enterprises and startups from India. The company plans to offer equity shares of 64.30 lakh through the book-building process.
The business is promoted by Kunal Lalani and is about three decades old. It works in the ad-tech communication solutions for advertising media services in brand strategy, creative solutions, events and activations, digital media and traditional media planning and buying. The company, in a statement, said that proceeds from the initial public offering will be used in building infrastructure and technology for expansion -- about ₹15 crore will be used in each vertical.
Its most recent announcement was that it won mandates including that of Tata Sons, National Skill Development Corporation, Indian Oil Corporation, Tata-owned Croma and Bank of Baroda. Its mandate of the National Skill Development Corporation is to transform the brand notion and strengthen the connection with youth.
Within the Tata Group Companies, Crayons recently bagged the social media mandate for Tata Sons. It has also worked on Tata’s Mumbai Marathon campaign as well as launched the Air India transition campaign ‘Wings of Change’ and handled Croma’s creative mandate.
As the advertising industry recovers from the blow it received from the pandemic, the domestic advertising industry has been demonstrating an 18.1% growth since 2021 with a market size of ₹85,769 crore, said a report by advertising agency Dentsu.
The sector is expected to grow at a compounded rate of 15.07% to reach ₹1.13 lakh crore by the end of 2024, said ‘Dentsu India Digital Report 2023’. It said that a heavy skew was towards digital mediums with digital advertising having a market share of more than a third of the entire market size at ₹29,784 crore, growing at a much faster rate at 39.5% over 2021. It is predicted to reach ₹51,110 crore, with a compounded growth rate of 31%, by 2024.