The Outcome of the Board Meeting dated October 14, 2025 is attached herewith.
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TCC Concept Limited's board, on October 14, 2025, approved acquiring a 95.18% stake (on fully-diluted basis) in Pepperfry Limited, India's largest omnichannel furniture and home goods e-commerce marketplace, from its existing shareholders through a share swap deal valued at approximately Rs. 659.44 crores. To fund this, TCC Concept will issue 1,18,19,109 equity shares at Rs. 557.94 per share (including a premium of Rs. 547.94) to Pepperfry's existing investors on a preferential basis. Pepperfry reported turnover of Rs. 164.18 crores in FY25, down from Rs. 272.40 crores in FY23. The board also approved a new ESOP scheme — TCC Concept Employee Stock Option Plan 2025 — covering up to 35 lakh options for eligible employees. The acquisition is expected to be completed by December 15, 2025, subject to shareholder and regulatory approvals.
This is a major pivot for TCC Concept into the e-commerce and furniture marketplace space, significantly expanding its scale and revenue base. Existing shareholders may see dilution from the preferential share issuance, but the addition of Pepperfry's brand and customer reach could unlock long-term growth, making it a strategically significant but execution-sensitive move.