Three decades ago, Ferns N Petals started out solving a simple problem: finding a decent bunch of flowers in Delhi was harder than it should have been. That small fix has since grown into a gifting empire spanning five countries, and now the company is preparing for its biggest milestone yet, a stock market debut.
Ferns N Petals is targeting an IPO by the end of 2028, Global CEO Pawan Gadia told Reuters, with the Lighthouse-backed company aiming for roughly 25% annual revenue growth over the next few years to get there. That growth rate is not aspirational guesswork either, FNP already delivered exactly that in FY26, closing the year with Rs 1,085 crore in revenue. Profitability is climbing too, with core earnings margins expected to improve to 5-6% this fiscal year, up from just 2.5% the year before.
Founded in 1994, FNP has expanded well beyond flowers into cakes and personalised gifts, sold through its own website, third-party marketplaces, company-owned stores, and franchise outlets. The business now spans India, the UAE, Singapore, Saudi Arabia, and Qatar, with India still contributing more than half its revenue. Malaysia and additional Gulf markets are next on the expansion list.
On the ground, the plan is equally concrete: FNP wants to grow its retail footprint from around 280 stores today to 350 by FY28, leaning on company-owned outlets in big metros while handing smaller towns over to a franchise-led model. IPO proceeds are earmarked not just for that expansion but also for acquiring other brands in the gifting space, suggesting FNP wants to own more of the category rather than simply compete within it.
Having raised only about $27 million in funding since inception, FNP has stayed relatively lean for a company of its scale. In a market crowded with IGP, FlowerAura, Winni, and Archies, that capital discipline, paired with a public listing on the horizon, might be exactly what sets it apart.
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