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IPO

Gifting platform Ferns N Petals eyes India IPO by 2028

Economic Times  

Delhi-based, Lighthouse Funds-backed gifting platform Ferns N Petals plans to go public by the end of 2028, according to its global CEO, Pawan Gadia. The company intends to utilize the proceeds from the proposed initial public offering to fund its expansion efforts and acquire other gifting brands.Established in 1994, the company operates as a retailer of flowers, cakes, and personalized gifts. The company maintains a presence in India, the United Arab Emirates, Singapore, Saudi Arabia, and Qatar, and has expressed intentions to enter Malaysia and additional countries in the Gulf region.The company plans to expand its store network to 350 locations by fiscal 2028, up from the current count of over 300. The retailer is shifting its strategic focus toward profitability, projecting a core earnings margin of 5% to 6% for the current fiscal year.The company reported revenue of INR 10.85 billion in fiscal 2026, marking a 25% increase compared to the previous year.

In Mar 2022, Ferns N Petals had attracted about $ 26 M from Lighthouse.