Ferns N Petals targets 2028 IPO after FY26 revenue crosses ₹1,000 crore

Ferns N Petals plans to go public in calendar 2028, following ₹1,085 crore revenue in FY26. The gifting retailer is expanding its 300-plus-store network into Tier-II and Tier-III markets, while quick commerce now contributes about 25% of orders.

— Source publishedWed, 29 Jul, 2026, 07:11 IST·First seen Wed, 29 Jul, 2026, 07:15 IST·Source Financial Express · BrandWagon

What happened

Ferns N Petals (FNP) · Ferns N Petals plans a potential 2028 IPO after crossing ₹1,000 crore revenue in FY26. It is expanding in Tier-II and Tier-III India,

Key facts

  • IPO targeted in calendar year 2028
  • ₹1,085 crore revenue in FY26
  • Over 300 physical stores in India
  • Deliveries across more than 400 cities
  • UAE revenue expected to exceed ₹500 crore in FY27
  • Quick commerce accounts for around 25% of orders
  • Quick-commerce assortment has about 25-30 products versus over 6,000 on FNP's platform

Why this matters

Ferns N Petals’ pre-IPO push across smaller cities and quick commerce makes logistics, regional retail partnerships and last-mile capabilities increasingly strategic acquisition or alliance targets.

What to watch

  • FY27 and FY28 revenue growth versus the ₹1,085 crore FY26 base.
  • EBITDA margin, operating cash flow and working-capital movement through major festive periods.
  • Same-store sales growth and net store additions, especially the owned-versus-franchised mix.
  • Quick-commerce share of orders rising above or falling below the current roughly 25% level.
  • Average order value, delivery costs, repeat-order rates and discount intensity.
  • Evidence of new funding, investment-bank mandates, board/governance appointments or IPO-preparation disclosures.
  • Competitive moves by quick-commerce platforms and gifting, flower, bakery or celebration-commerce rivals.
  • Expand through a lower-capex franchise-led model in Tier-II and Tier-III markets while selectively owning flagship stores in major cities.
  • Build IPO metrics around same-store sales growth, contribution margin, repeat purchase rates, franchise revenue and festive-season cash conversion.
  • Deepen quick-commerce integrations or establish dedicated hyperlocal fulfilment capacity for flowers, cakes and emergency gifting occasions.
  • Increase private-label and exclusive assortment penetration in plants, hampers, personalized gifts and celebration products to protect gross margins.
  • Pursue pre-IPO capital, governance upgrades, audited segment reporting and a clearer path to profitability before the 2028 filing window.