Crayons Advertising Limited, an integrated advertising agency, has announced its intention to double its revenues over the next three years, primarily by focusing on digital and events verticals.
The agency recently filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge for an initial public offering (IPO).
The Indian advertising market was valued at nearly Rs 670 billion in 2020 and is expected to grow at a CAGR of 11% from 2022-2027, reaching Rs 1253.2 billion by 2026.
Infrastructure, banking and financial services (including fintechs), tourism, government departments, MSMEs, and large homegrown players are expected to command a larger share of ad budgets. Integrated players with a deep understanding of the Indian market are likely to dominate the agency selection going forward, a statement from the agency said.
Crayons has been investing in its leadership team, appointing professionals such as Faisal Haq as its chief operating officer, industry veterans Manoj Jacob as executive creative director and Anurag Mishra as senior creative director.
“In the business of creativity and innovation, the quality of people is the core differentiator. With timely investments in our capabilities backed by robust brand equity, we are now expanding our leadership team,” said Kunal Lalani, Founder & Managing Director, Crayons Advertising.