Overview

• In a BSE filing, TCC Concept said it executed a term sheet to buy up to all of Pepperfry’s equity, with closing subject to due diligence, definitive agreements and customary conditions.
• Financial details of the proposed transaction were not disclosed by the companies.
• TCC said the combination aims to expand its digital marketplace presence, integrate Pepperfry’s platform with its tech capabilities and create operational synergies.
• TCC Concept’s shares hit the 5% upper circuit after the announcement, according to market reports.
• Pepperfry reported a FY24 net loss of INR 117.5 crore on operating revenue of INR 188.9 crore, has raised over $305 million to date and was reported to be seeking about $5 million from existing investors earlier this year.