New Delhi: Crayons Advertising Ltd, an advertising agency, has submitted the Draft Red Herring Prospect (DRHP) to NSE Emerge for its initial public offering (IPO). NSE Emerge is a National Stock Exchange initiative for small and medium-sized companies and startups from India. The company plans to offer shares worth 64.30 lakh as part of the bookbuilding process.
New Delhi: Crayons Advertising Ltd, an advertising agency, has submitted the Draft Red Herring Prospect (DRHP) to NSE Emerge for its initial public offering (IPO). NSE Emerge is a National Stock Exchange initiative for small and medium-sized companies and startups from India. The company plans to offer shares worth 64.30 lakh as part of the bookbuilding process.
The business is promoted by Kunal Lalani and is around three decades old. It works in the ad-tech communication solutions for advertising media services in the areas of brand strategy, creative solutions, events and activations, digital media and traditional media planning and buying. The company said in a statement that proceeds from the IPO will be used to build infrastructure and technology for expansion — roughly €15 crore is used in each vertical.
The business is promoted by Kunal Lalani and is around three decades old. It works in the ad-tech communication solutions for advertising media services in the areas of brand strategy, creative solutions, events and activations, digital media and traditional media planning and buying. The company said in a statement that proceeds from the IPO will be used to build infrastructure and technology for expansion — roughly €15 crore is used in each vertical.
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The most recent announcement was that it has won mandates including that of Tata Sons, National Skill Development Corporation, Indian Oil Corporation, Tata-owned Croma and Bank of Baroda. Her mission to the National Skill Development Corporation is to transform branding and connect with youth.
Within the Tata Group Companies, Crayons was recently given social media mandate for Tata Sons. It has also worked on Tata’s Mumbai marathon campaign, launched the Air India transition campaign Wings of Change and took on Croma’s creative mandate.
As the advertising industry recovers from the blow it took from the pandemic, the domestic advertising industry has grown 18.1% since 2021 with a market size of €85,769 crore, said a report by advertising agency Dentsu.
The sector is expected to grow at an overall rate of 15.07% €1.13 lakh crore by the end of 2024 according to the “Dentsu India Digital Report 2023”. It said there was a strong bias towards digital media, with digital advertising accounting for more than a third of the total market size €29,784 crore, which is growing much faster at 39.5% over 2021. It is predicted that it will be achieved €51,110 crore, with a compound growth rate of 31% through 2024.
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