Ferns N Petals intends 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, according to a top company official.
The company’s expansion plans include FMCG and hospitality sectors.
Ferns N Petals Founder and MD Vikaas Gutgutia told PTI, “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.”
The company intends to become a major player in the FMCG segment with launch of packaged water, chocolates, cookies and cakes. Not only this, It is also looking at establishing a chain of wedding hotels.
He added, “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.”
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.
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 pan India. By the end of year 2020, the brand is planning to open 500 outlets across the country.