Ferns N Petals eyes IPO in 2020 to fund expansion

Ferns N Petals plans to come out with its initial public offer (IPO) in 2020 while it expands its operations beyond the core business of flowers and gifts retailing, a top company official said. The company's expansion plans include FMCG and hospitality sectors.

"We are looking at coming out with an IPO in the next 14-18 months...In year 2020. Work has already started on this front. We will use money to fund our growth plans as we expand beyond our core business of flowers and gifting," Ferns N Petals Founder and MD Vikaas Gutgutia told PTI.

The company plans to become a major player in the fast moving consumer goods (FMCG) segment with launch of packaged water, chocolates, cookies and cakes. It is also looking at establishing a chain of wedding hotels.

"We want to expand base beyond our core business of flowers, gifting and wedding decor. Apart from growing FMCG, we are also looking at opening a chain of wedding hotels and producing content for different platforms such as web series and short films," he added.

Gutgutia said Ferns N Petals plans to invest Rs 20 crore to open three to four hotels in the next 12 months. At present, it has one operational property in Delhi.

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The company had reported about Rs 360 crore turnover last fiscal, and expects about 30 per cent year-on-year growth.

Ferns N Petals has 300 outlets in 120 cities across India. By the end of year 2020, the brand is planning to open 500 outlets across the country.