Ferns N Petals Eyes 2028 IPO with 25% Revenue Growth Target

Gifting and floral retailer Ferns N Petals (FNP) intends to launch an Initial Public Offering (IPO) by the close of 2028. The company targets approximately 25% annual revenue growth in the coming years, with IPO funds earmarked for significant business expansion.

FNP recorded Rs 1,085 crore in revenue for fiscal year 2026, marking a 25% year-on-year increase. Profitability is a key focus, with core earnings margin expected to rise to 5-6% this fiscal year, up from 2.5% previously.

Growth Drivers & Expansion Targets

Quick commerce is a major growth driver. Revenue from marketplace-led quick commerce and food commerce surged from Rs 8 crore in FY24 to Rs 65 crore in FY26, with a target of Rs 125 crore for the current fiscal year. FNP’s own rapid-delivery service contributes about 5% of total revenue, offering 30-45 minute deliveries in select locations.

To support this, FNP plans to nearly double its company-owned dark store and fulfillment network in metro cities, increasing from 21 to approximately 40 locations over the next year. Physical retail is also expanding, with FNP aiming for around 350 outlets by FY28. This includes company-owned stores in metros and a franchise model for smaller towns, building on its presence in over 400 Indian cities.

Internationally, FNP operates in the UAE, Saudi Arabia, Qatar, and Singapore, actively pursuing expansion into Malaysia and additional Gulf markets. The premium gifting segment, FNP Luxe, currently contributes about 8% to revenue, with projections to reach 10% of total sales by the end of FY27.