Ferns N Petals plans IPO by end of 2028
What's the story
Ferns N Petals, an Indian gifting retailer backed by Lighthouse, is planning to go public by the end of 2028. The company's global CEO Pawan Gadia told Reuters that the IPO will help fund their expansion and acquisitions. He said, "The end of 2028 will be a good time for us to go public," adding that they also plan to use the funds for acquiring other gifting brands.
Global expansion
Company presence and expansion plans
Founded in 1994, Ferns N Petals has a presence in India, UAE, Singapore, Saudi Arabia, and Qatar. The company sells flowers, cakes, and personalized gifts.
Gadia said they plan to expand into Malaysia and other Gulf countries but didn't give a specific timeline for this expansion.
Despite the Middle East war, he says it hasn't affected their plans though softer sales are expected between April-June.
Financial outlook
Revenue growth expectations
Ferns N Petals reported a revenue of $113.19 million in FY26, marking a 25% increase from the previous year.
The company was last valued at $329 million in 2022, according to Tracxn.
Gadia expects the company to maintain an annual revenue growth of around 25%, with India contributing around 55% of its total revenue.
Growth strategy
Store network expansion and profitability focus
Ferns N Petals plans to expand its store network to 350 by FY28, up from over 300 at present. The focus will be on affluent urban neighborhoods and franchise-led expansion into smaller cities.
Gadia also expects a core earnings margin of 5%-6% this fiscal year, up from last year's 2.5%.
He said the company has shifted its focus toward profitability as investors are now looking more at earnings than revenue growth.