Announcement as per the attached letter.
TCC · price
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Awaiting price reaction for this filing.
TCC Concept Ltd's board, on October 14, 2025, approved issuing up to 1,18,19,109 equity shares at Rs. 557.9445 per share (face value Rs. 10, premium Rs. 547.9445), aggregating to roughly Rs. 659.44 crores, on a preferential basis. The shares will be issued to 48 allottees (all non-promoters) entirely as non-cash consideration for acquiring a 95.18% stake (fully diluted) in Pepperfry from its existing shareholders. Notable allottees include Goldman Sachs, General Electric Pension Trust, Norwest Venture Partners, DSP group entities, Pidilite Ventures, Parle Bisleri, and 360 One Investment Adviser. The allotment is subject to shareholder and other regulatory approvals.
This is a share-swap acquisition that gives TCC Concept a controlling 95.18% stake in Pepperfry (a major online furniture brand) but dilutes existing shareholders as ~1.18 crore new shares are issued. The stock may see volatility depending on how the market views Pepperfry's embedded valuation (~Rs. 659 crores for ~95% stake) and the growth prospects of the combined entity.