TCC Concept Limited has announced that its Board of Directors, at a meeting held on November 11, 2025, approved the acquisition of a 98.98% stake in Pepperfry Limited, India’s leading online furniture and home goods marketplace. The acquisition, valued at ₹661.47 crore, will be executed through a share swap arrangement under which TCC Concept will issue 1,18,55,560 equity shares to Pepperfry’s shareholders on a preferential basis.
This acquisition follows earlier disclosures dated October 9 and October 14, 2025, and represents a significant milestone in TCC Concept’s strategy to expand its footprint in the e-commerce and digital marketplace ecosystem.
Key Details of the Acquisition
- Stake Acquired:98% of Pepperfry Limited on a fully diluted basis
- Includes 3,50,32,475 equity shares and 30,13,917 compulsorily convertible preference shares (CCPS)
- Consideration: ₹661,47,44,496.42 through issuance of shares (non-cash, share swap)
- Valuation: Each TCC Concept equity share to be issued at ₹557.9445 per share (face value ₹10, premium ₹547.9445)
- Total Shares Issued: 1,18,55,560 equity shares
- Completion Timeline: Expected by December 15, 2025, subject to shareholder and regulatory approvals
- Approvals Required: Shareholders, stock exchanges, and other statutory/regulatory permissions under the Companies Act, 2013 and SEBI Regulations
The company has also approved an increase in the size of its preferential issue to facilitate the share swap and has dispatched a corrigendum to its Extraordinary General Meeting (EGM) notice dated October 14, 2025, reflecting these updates.
About Pepperfry Limited
Founded in 2012 by Late Ambareesh Murty and Ashish Shah, Pepperfry is India’s largest omnichannel furniture and home décor marketplace, with over 150 studios across 100+ cities. It offers a seamless online and offline shopping experience through its assisted buying services and robust supply chain network.
- Industry: E-commerce (Online Marketplace)
- Turnover:
- FY 2024–25 – ₹164.18 crore
- FY 2023–24 – ₹188.99 crore
- FY 2022–23 – ₹272.40 crore
- Date of Incorporation: July 25, 2011
- Subsidiaries: Pepperfry Modular Pvt. Ltd., Clouddio Sleep Pvt. Ltd., and Pepcart Logistics Pvt. Ltd.
Strategic Rationale
TCC Concept stated that the acquisition will strengthen its presence in the digital and consumer technology domains, complementing its focus on technology-driven platforms. The integration of Pepperfry’s established marketplace with TCC Concept’s digital innovation capabilities is expected to create operational synergies, enhance customer experience, and unlock new growth avenues in the e-commerce and consumer internet ecosystem.
“The acquisition of Pepperfry aligns with our long-term vision of building scalable, technology-enabled consumer platforms,” the company said in its filing. “This move positions TCC Concept at the forefront of India’s evolving digital commerce landscape.”
Additional Information
- Transaction Type: Share swap (no cash consideration)
- Not a Related Party Transaction: None of the promoters, promoter group members, or directors of TCC Concept have any interest in Pepperfry.
- Proposed Allottees: Non-promoter investors, including Anupama Vedantam and Anupama Vedantam (Vedantam Family Trust), as per Schedule-A of the company’s disclosure.
Upon completion, Pepperfry Limited will become a subsidiary of TCC Concept Limited, marking one of the most significant e-commerce acquisitions of the year in India’s startup and technology sector.