Crayons Advertising files draft papers with NSE Emerge for IPO

Advertising agency Crayons Advertising Ltd on Monday said it has filed draft papers with NSE Emerge for its initial public offering (IPO). The company plans to offer 64.30 lakh equity shares of face value Rs 10 each through the book-building process, according to a statement.

Proceeds to the tune of Rs 15.28 crore from the issue will be used in building infrastructure and cutting-edge technology for expansion and Rs 14.5 crore for funding working capital requirements.

Corporate Capital Ventures is the book-running lead manager to the issue and Skyline Financial Services is the registrar of the issue. Crayons Advertising's services span from brand strategy, creative solutions, events & activations, digital media and traditional media planning and buying.

Recently, the company announced that it won mandates, including Tata Sons, National Skill Development Corporation, Indian Oil Corporation, Tata Croma and Bank of Baroda. The mandate of the National Skill Development Corporation is to transform the brand notion and strengthen the connection with youth. The agency's experience in handling government businesses played a major role in the final selection for taking over its social media mandate.

Also Read: Top Gainers & Losers: Pharma stocks see big moves after FDA move on Cipla

Patron Exim IPO: Check subscription date, price band, allotment and listing date