New Delhi: Crayons Advertising Limited, 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 of India for small and medium sized enterprises and startups. The company plans to offer equity shares of 64.30 lakh through a book-building process.
The business is promoted by Kunal Lalani and is almost three decades old. It deals in ad-technology communication solutions for brand strategy, creative solutions, events and activation, advertising media services in digital media and traditional media planning and buying. The company said in a statement that the proceeds from the initial public offering will be used to build infrastructure and technology for expansion - approximately ₹15 crore will be used in each vertical.
Its most recent announcement was that it won mandates including Tata Sons, National Skill Development Corporation, Indian Oil Corporation, Tata-owned Croma and Bank of Baroda. Its mandate of National Skill Development Corporation is to change the brand perception and strengthen the connect with the youth.
Within the Tata group of companies, Crayons recently received 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 the creative mandate of Croma.
A report by advertising agency Dentsu states that while the advertising industry is recovering from the shock caused by the pandemic, the domestic advertising industry is set to display a growth of 18.1% in 2021 with a market size of Rs 85,769 crore.
The 'Dentsu India Digital Report 2023' states that the sector is expected to grow at a compounded rate of 15.07% to reach ₹1.13 lakh crore by the end of 2024. It added that there was a heavy skew towards digital mediums, with the market share of digital advertising accounting for more than a third of the entire market size of ₹29,784 crore, growing at a faster rate of 39.5% over 2021. It is estimated to reach ₹ ₹. 51,110 crore, with a compound growth rate of 31% by 2024.
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