SME IPO: Crayons Advertising subscribed 147 times, listing on June 2

The initial public offering (IPO) of Crayons Advertising received an overwhelming response from the bidders, clocking a 147.61 times subscription worth Rs 4,104.67 crore. The shares of the firm are likely to get listed on June 2.

Crayons' retail portion of the issue has received a strong response and was subscribed 169.94 times. The company received bids for 36.33 crore shares against 21.38 lakh shares on offer. The non-institutional investor (NII) category was subscribed 231.94 times, with the company receiving more than 21.29 crore shares against 9.18 lakh shares on offer. The QIB category was oversubscribed with 5.51 crore shares against 12.22 lakh shares on offer.

The company offered a total of 42.78 lakh shares (Rs 10/- paid up) through the book-building process in the price band of Rs 62-65 per share. Of the 42.78 shares offered, 9.18 lakh shares are reserved for HNIs, 12.22 lakh shares for QIBs and 21.38 lakh will be offered to retail investors.


Prominent international institutional investors, including Europe’s bank Societe Generale ODI, and other international and domestic institutional funds have subscribed to Crayons Advertising’s anchor book. The company had offered 18.30 lakh shares to the anchor investors.

Societe Generale ODI has been allocated 4.62 lakh; Vikasa Global Fund PCC 302,000; Belgrave Investment Fund 3.02 lakh, and Aegis Investment Fund PCC has been allocated 3.02 lakh shares.

Among other institutional investors, Rajasthan Global Securities has been allocated 1.54 lakh; NAV Capital Emerging Star Fund 1.54 lakh, and Silver Stallion Fund has been allocated 1.54 lakh shares in the anchor book.

On its listing on June 2, Crayons Advertising will be India's first major homegrown integrated advertising agency to go public. Corporate Capital Venture Pvt Ltd is the lead manager to issue and Skyline Financial Services is the registrar to the issue. The shares of the company will be listed on NSE Emerge.

The company plans to invest in setting up its own film and animation studios and enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. It also plans to enhance a wide array of event offerings with new-age technology applications to allow omnipresence, scale up the OOH business and acquire talent from the international market. The public issue proceeds will be utilised for capital expenditure on infrastructure & cutting-edge technology.

Incorporated in 1986, Crayons Advertising has been promoted by Kunal Lalani. The company provides a high-end ecosystem and end-to-end ad-tech communication solutions platform for advertising media services consisting of brand strategy, events, digital media, Print Media, and Outdoor (OOH) Media services, which cover advertisement modes such as Newspapers, Brochures, Magazines, Television Channels, FM channels and display of Outdoor Hoardings, etc.