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Crayons Advertising IPO fully Subscribed within Hours on Day 1

07 July 20233 mins read by Angel One
A terrific opportunity for investors to become a part of a known Indian advertising powerhouse, IPO started on May 22 with a price band of Rs 62-65 per share.
Crayons Advertising IPO fully Subscribed within Hours on Day 1
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Overview of the Business 

Crayons Advertising Limited, founded in 1986, is an integrated marketing and communications agency. It was founded with the goal and aim of providing advertising solutions and has consistently grown its business horizons in the sector for over 36 years. They provide clients with design solutions that aid in brand creation along with top-notch creative, amazing brand marketing strategy, practical online and offline media planning and buying. 

Crayons Advertising would become the first significant in-house integrated advertising firm in India to list on exchanges following the IPO. 

IPO Details: 

The Crayons Advertising Ltd IPO started for subscription on Monday, May 22, and will end on Thursday, May 25, 2023. The IPO price range is Rs 62 to 65 per share, with a lot size of 2000 shares and the listing date will be Friday, June 2, 2023. The IPO is to list on NSE. 

Crayons Advertising intends to raise around Rs 41.80 crore through IPO. Proceeds from the public issue will be used to fund infrastructure and cutting-edge technological capital projects. 

The company intends to issue 64.30 lakh equity shares (Book-Building Process) having a face value of Rs 10 each, with 30.52 lakh allocated for qualified institutional buyers (QIBs), 9.18 lakh reserved for high-net-worth individuals (HNIs), and 21.38 shares available to the general public. 

For the nine months ending in December 2022, Crayons Advertising recorded total revenue of Rs 203.75 crore and a net profit of Rs12.67 crore with a PAT margin of 6%. Total borrowings with the company are Rs 8.15 crore. 

Subscription Status

On day 1, fully subscribed driven by the retail investors subscribed by 3.13 times of the shares on offer. The NII category was subscribed 48%. There were no bids from QIB. Overall, the issue was subscribed 1.59 times same day. 

The current status of Crayons Advertising IPO subscribed 14.49 times. The public issue subscribed 28.15 times in the retail category, 0.10 times in QIB, and 5.11 times in the NII category by May 23, 2023 6:10:00 PM. 

Conclusion 

An exceptional opportunity to invest in an established advertising powerhouse with tremendous growth potential exists with Crayons Advertising’s approaching IPO. With its seller reputations, innovative approach and immersive financial performance, it is primed to make a mark in the advertising industry.

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