Update on Acquisition of Pepperfry Limited is attached.
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TCC Concept Limited has completed the acquisition of an 89.09% stake (on a fully diluted basis) in Pepperfry Limited, India's largest omnichannel furniture and home goods e-commerce marketplace, through a share swap deal. The company allotted 1,06,10,690 equity shares on a preferential basis to Pepperfry's shareholders at a total cost of approximately Rs. 592 crores. Consequently, Pepperfry has become a subsidiary of TCC Concept. The acquisition received all requisite approvals including BSE's in-principle approval for the preferential issue. Pepperfry's turnover stood at Rs. 164.18 crores in FY25, down from Rs. 188.99 crores in FY24 and Rs. 272.40 crores in FY23, indicating a declining revenue trend.
The acquisition expands TCC Concept's presence into the e-commerce and digital marketplace space, aligning with its tech-driven platform strategy. For existing shareholders, the share swap means significant dilution (1,06,10,690 new shares issued), while bringing Pepperfry's established marketplace business under the company's umbrella. Pepperfry's declining turnover may be a concern, but operational synergies and scale could revive growth.