NewsOrders & DealsTCC Concept Limited Increases Stake in Pepperfry to 98.98% for Rs 661.47 CroreTCC Concept Limited Increases Stake in Pepperfry to 98.98% for Rs 661.47 Crore
TCC Concept Limited has increased its stake acquisition in Pepperfry Limited from 95.18% to 98.98% on a fully-diluted basis. The revised deal involves acquiring 3,50,32,475 equity shares and 30,13,917 Compulsorily Convertible Preference Shares for a total consideration of Rs 661.47 crore. TCC Concept will issue 1,18,55,560 equity shares at Rs 557.94 per share to Pepperfry's shareholders. This strategic move aims to strengthen TCC Concept's presence in the e-commerce and digital marketplace space, particularly in the furniture and home goods segment. The acquisition is subject to shareholder and regulatory approvals.
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TCC Concept Limited has announced an expansion of its previously reported acquisition of Pepperfry Limited, India's largest omnichannel furniture and home goods e-commerce marketplace. The company's board has approved an increase in the stake acquisition from the initially planned 95.18% to 98.98% on a fully-diluted basis.
Acquisition Details
The revised deal involves TCC Concept acquiring:
- 3,50,32,475 equity shares (98.90% of total equity shares)
- 30,13,917 Compulsorily Convertible Preference Shares (CCPS) (100% of CCPS)
This acquisition represents a 98.98% stake in Pepperfry on a fully-diluted basis, for a total consideration of Rs 661.47 crore.
Share Swap Agreement
To facilitate this acquisition, TCC Concept will issue 1,18,55,560 equity shares to Pepperfry's shareholders through a preferential allotment. The shares will be issued at a price of Rs 557.94 per share, including a premium of Rs 547.94 per share.
| Particulars | Details |
|---|---|
| Total Shares to be Issued | 1,18,55,560 |
| Issue Price per Share | Rs 557.94 |
| Premium per Share | Rs 547.94 |
| Total Deal Value | Rs 661.47 crore |
Strategic Rationale
The acquisition aims to strengthen TCC Concept's presence in the e-commerce and digital marketplace space. By integrating Pepperfry's established furniture and home goods marketplace with TCC's technology expertise, the company plans to:
- Enhance customer experience
- Create operational synergies
- Unlock new growth opportunities
This move aligns with TCC Concept's vision of building scalable and technology-enabled consumer platforms.
About Pepperfry
Founded in 2011, Pepperfry has grown to become a significant player in India's online furniture and home decor market. Key highlights include:
- 150+ studios across 100+ cities
- Robust supply chain and Assisted Buying services
Regulatory Approvals and Timeline
The acquisition requires approval from TCC Concept's shareholders and the stock exchange, in accordance with the Companies Act, 2013 and SEBI regulations. The company expects to complete the acquisition subject to receiving all necessary approvals.
Impact on Shareholding
Post-acquisition, the promoter shareholding in TCC Concept is expected to decrease from 60.87% to 45.69%, while public shareholding will increase from 39.13% to 54.31%.
This strategic move by TCC Concept Limited marks a significant step in consolidating its position in the rapidly growing e-commerce sector, particularly in the furniture and home goods segment.
Historical Stock Returns for TCC Concept
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.53% | -1.28% | +6.69% | +37.43% | +2.29% | +2,816.75% |
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