The scrip was listed at Rs 90, a premium of 38.46% over the initial public offer (IPO) price. The scrip hit a high of Rs 94.50 and a low of Rs 90. About 21.46 lakh shares of the company changed hands at the counter.
The initial public offer (IPO) of received bids Crayons Advertising was subscribed 98.20 times. The issue opened for bidding on 22 May 2023 and it closed on 25 May 2023. The price band of the IPO was Rs 62-65 per share.
The IPO comprised fresh issue of 64,30,000 shares. The promoter and promoter group shareholding will dilute to 73.5% post IPO from 99.75% pre-IPO.
Ahead of the IPO, Crayons Advertising on 19 May 2023, raised Rs 11.89 crore from anchor investors. The board allotted 18,30,000 shares at Rs 65 per share to 7 anchor investors.
The company intends to utilize the net proceeds from the issue to funding of working capital requirements, capital expenditure on infrastructure and cutting-edge technology for expansion and general corporate purposes.
Crayons Advertising is integrated marketing and communications agency, providing 360 degree solutions to its wide array clients. The company provides high-end ecosystem and end-to-end ad-tech communication solutions platform for advertising media services consisting of brand strategy, events, digital media, print media, outdoor (OOH) media services which covers advertisement modes such as newspapers, brochures, magazines, television channels, FM channels and display of outdoor hoardings, etc. The company has total 188 employees.
The company recorded a revenue from operations of Rs 199.01 crore and net profit of Rs 12.67 crore for the period ended on 31 December 2022.
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