BackAfter filing IPO papers, Crayons Advertising aims to double its revenue by 2026
Promoted by the Indian ad veteran Kunal Lalani, Caryons Advertising has demonstrated presence as an integrated and innovative advertising agency for over three and half decades.
PremiumRight after filing IPO papers, India's leading homegrown integrated advertising agency, Crayons Advertising on Wednesday announced its plans to double its revenues in the next three years, mainly riding on digital and events verticals. Upon listing on exchanges, the company will be the country's first major homegrown advertising agency to go public.
Crayons filed it's Draft Red Herring Prospectus (DRHP) with NSE Emerge for its initial public offering (IPO) on Tuesday. Under the IPO, Crayons plan to offer equity shares of 64.30 lakh through the book-building process. The equity shares offered under the IPO will have a face value of ₹10 each.
Promoted by the Indian ad veteran Kunal Lalani, Caryons Advertising has demonstrated presence as an integrated and innovative advertising agency for over three and half decades.
Kunal Lalani, the founder and managing director at Crayons Advertising told Mint in a statement, "Today, we are aiming for an orbital shift, given our integrated proposition, the strong economic tailwinds for the advertising sector, and sustained mandate flow in our digital and events verticals. We are raising funds to build further our digital capabilities, which will enable us to not only cater to the brands in Bharat, but also offer our new-age tech-led solutions to the world going forward."
In a statement, Crayons highlighted that the Indian advertising market was valued at nearly ₹670 billion in 2020. The market is expected to grow at a CAGR of 11% from 2022-2027 to reach INR 1253.2 billion by 2026. Infrastructure, banking & financial services (including fintechs), tourism, Government departments & the MSME, and large home-grown players are expected to command a larger share of ad budgets.
It added, "the demand for integrated players with a deep understanding of Bharat will dominate the agency selection going forward."
Lalani added, "in the business of creativity and innovation, the quality of people is the core differentiator."
He said, "We at Crayons have always believed in building teams by investing in credible leaders, which has enabled us to build our reputation as a respected creative partner to global brands. With timely investments in our capabilities backed by robust brand equity, we are now expanding our leadership team."
The company has continued to strengthen its leadership team with appointments of marquee professionals.
Recently, the company roped in Faisal Haq as its Chief Operating Officer industry veterans, while Manoj Jacob and Anurag Mishra have joined as the Executive Creative Director and Senior Creative Director, respectively.
Crayons Advertising is a full-fledged innovative advertising solution with offices in Delhi, Mumbai, Chennai, Kolkata, and Lucknow.
At present, Crayons has transformed into an end-to-end ad-tech integrated marketing communications agency, offering 360-degree service solutions spanning across strategy, creative, traditional, and digital media planning & buying, OOH services, and on-ground activations.
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