Crayons Advertising’s shares debut at premium 38.46% to offer price

The share price of Crayons Advertising listed at Rs 90 on June 2, 2023, a 38.46% premium to the offer price of Rs 65 at NSE Emerge. The stock settled at Rs 94.50, up 45.38% to the offer price with more than 22.28 lakh shares traded on the counter.

The Crayons Network is an integrated marketing and communications agency providing ad-tech communication solutions platform for advertising media services. The company had offered 64.30 lakh fresh shares to the public and the issue was subscribed 147.61 times.

Crayons Advertising is India’s first major homegrown integrated advertising agency to go public. Corporate Capital Venture Pvt Ltd is the lead manager of the issue and Skyline Financial Services is the Registrar of the issue. The shares of the company are listed on NSE Emerge.

Incorporated in 1986, Crayons Advertising has been promoted by Kunal Lalani. The company plans to invest in setting up its own film and animation studios and enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR, and other emerging immersive tech. It also plans to enhance a wide array of event offerings with new-age technology applications to allow omnipresence, scale up the OOH business and acquire talent from the international market. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.