Crayons Advertising Limited, a 360-degree solutions provider, is launching its Initial Public Offering (IPO). The IPO is scheduled from May 22, 2023, to May 25, 2023. The company has been operational since 1986, and it has expanded steadily over its 36 years in business.
Crayons Advertising is a rare agency. It offers fully integrated, independent marketing and communication solutions. Its services range from creative and brand strategy to digital expertise. It also provides online & offline media planning & buying, on-ground & virtual activations, and design solutions.
The company also offers a high-end ecosystem. This ecosystem is a platform for end-to-end ad-tech communication solutions. These solutions cater to various advertising media services, including Brand Strategy, Events, Print Media, Digital Media, and Outdoor (OOH) Media services.
Crayons Advertising IPO: Important Details
- IPO Date: May 22 to May 25, 2023
- Face Value: ₹10 per share
- Price: ₹62 to ₹65 per share
- Lot Size: 2000 Shares
- Total Issue Size: 6,430,000 shares
- Fresh Issue: 6,430,000 shares
- Issue Type: Book Built Issue IPO
- Listing At: NSE SME
- Share Holding Pre Issue: 18,000,000
- Share Holding Post Issue: 24,430,000
Tentative Timetable for the IPO
The IPO opens on Monday, May 22, 2023. It closes on Thursday, May 25, 2023. The allotment basis will be announced on Tuesday, May 30, 2023. Refunds will start on Wednesday, May 31, 2023. Shares will be credited to Demat on Thursday, June 1, 2023. The listing date is Friday, June 2, 2023. The UPI mandate confirmation cut-off time is 5 PM on May 25, 2023.
Lot Size & Reservation in the IPO
The lot size for this IPO is 2000 shares. The minimum retail application is ₹130,000. The maximum retail application is also ₹130,000. For HNIs, the minimum application is for 2 lots or ₹260,000.
Out of the total shares offered, 1,222,000 are for Qualified Institutional Buyers (QIB). Another 1,240,000 are for Non-Institutional Investors (NII or HNI). Retail investors are offered 2,138,000 shares. Additionally, 322,000 shares are reserved for the Market Maker, Ss Corporate Securities. The total shares offered amount to 4,600,000.
Investors have a great opportunity here. This IPO allows participation in the growth of a well-established marketing and communications agency. Always read the company’s DRHP to understand the financial health, risks, and other details before investing.