Allotment details as per attached letter.
TCC · price
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TCC Concept Ltd has allotted 1,06,10,690 fully paid-up equity shares of face value Rs. 10 each at an issue price of Rs. 557.9445 per share (including a premium of Rs. 547.9445), aggregating to about Rs. 592 crore. The shares were issued on a preferential basis to 30 non-promoter allottees, who are shareholders of Pepperfry Limited, as consideration other than cash in lieu of acquiring an 89.09% stake in Pepperfry on a fully diluted basis via a share swap. The allottees include marquee institutional investors such as Goldman Sachs Asia Strategic Pte. Ltd., General Electric Pension Trust, Norwest Venture Partners VII-A-Mauritius, Pidilite Ventures, DSP affiliates, and 360 One. The newly issued shares will rank pari-passu with existing equity shares.
Existing shareholders will face significant dilution as over 1 crore new shares are issued, though this is a non-cash deal that gives TCC Concept majority control in Pepperfry, substantially expanding its business footprint. The Rs. 557.9445 per share price establishes a benchmark for the combined entity and signals strong implied valuation for Pepperfry.