Announcement as per the attached letter.
TCC · price
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TCC Concept Ltd's board has approved the acquisition of a 95.18% stake in Pepperfry Limited, India's largest omnichannel furniture and home goods e-commerce marketplace, from its existing shareholders. The deal involves buying 3.35 crore equity shares and 30 lakh compulsorily convertible preference shares for a total cost of Rs. 659.44 crore, to be paid entirely through a share swap by issuing 1.18 crore fresh equity shares of TCC Concept. The transaction is expected to close by December 15, 2025, subject to shareholder and stock exchange approvals. Pepperfry's turnover has been declining, from Rs. 272.40 crore in FY23 to Rs. 188.99 crore in FY24 and Rs. 164.18 crore in FY25. This acquisition marks TCC Concept's move into the e-commerce and digital consumer marketplace space, complementing its technology-focused platforms.
This is a large, transformative acquisition for TCC Concept, effectively shifting its business focus toward e-commerce. Shareholders should note the deal is fully funded through issuing new shares, which will dilute existing equity holders. The declining turnover trend at Pepperfry may raise concerns about the target's near-term financial health, though the long-term bet is on synergies and scaling the platform.