Online floral and gifting platform Ferns N Petals (FNP) is targeting an initial public offering (IPO) in calendar year 2028, with the company stepping up efforts to strengthen governance, financial discipline and operational predictability before tapping the public markets, Global CEO and Director Pawan Gadia told FE in an interaction.
While the company did not disclose a formal timeline or other details, Gadia said the investors and leadership team are aligned on taking FNP public, with the eventual listing depending on business readiness and market conditions. “The priority is to build a strong, profitable and predictable company,” he said, adding that public markets demand consistent quarterly performance.
Profitable growth supports IPO plans
The listing plans come after FNP crossed the ₹1,000-crore revenue milestone. The company reported revenue of ₹1,085 crore in FY26 while remaining profitable, Gadia said.
Within India, FNP is increasingly seeing its next phase of growth come from Tier-II and Tier-III cities, supported by its network of over 300 physical stores and deliveries across more than 400 cities. Internationally, its UAE business, which started as a pilot in 2015, is expected to cross ₹500 crore in revenue in FY27, while operations in Singapore, Qatar and other Southeast Asian markets continue to expand.
The company is also leaning on quick-commerce platforms as an additional sales channel. Gadia said the channel now accounts for around 25% of the company’s orders, although its contribution to revenue is lower because the assortment is limited to about 25-30 products, compared with more than 6,000 products available on FNP’s own platform.
As premiumisation gathers pace in the gifting market, the company has chosen to address the trend through portfolio segmentation rather than raising prices across its core business. Gadia said FNP has created FNP Lux, a dedicated premium brand catering to customers seeking curated products and experiences, while the core FNP brand continues to serve its traditional customer base. This allows the company to retain affordability while tapping higher-end demand.
AI at the core of operations
The company is also expanding the use of artificial intelligence across its operations. According to Gadia, AI is being deployed to improve product discovery and recommendations, personalise customer journeys, enhance merchandising and demand forecasting, optimise inventory and delivery routing, and strengthen quality checks by matching delivered products with catalogue images.
On the recent notice issued by the Food Safety and Standards Authority of India (FSSAI), Gadia said the matter pertained to the labelling of one of its private-label chocolate products, in which a compound chocolate had been incorrectly labelled. He said the company has since corrected the labelling and submitted its response to the regulator, adding that the issue has been resolved.