By Ettech Last Updated
Copyright indiatimes
Realty services company TCC Concept said on Friday that it has signed a term sheet to acquire up to 100% stake in omnichannel furniture and home goods platform Pepperfry, according to a stock exchange filing.The Pune-headquartered company did not disclose the deal size or timeline for closure.“The acquisition of Pepperfry Limited is intended to strengthen TCC’s presence in the e-commerce and digital marketplace space, complementing its core focus on technology-driven platforms,” TCC Concept said in the filing.Founded in 2012, Pepperfry competes with ecommerce majors such as Amazon and Flipkart, as well as Reliance-backed Urban Ladder. The company generates most of its revenues from commissions on product sales.In June, Pepperfry raised Rs 43.3 crore from existing investors including Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners. Overall, the firm has raised $307 million to date, with other investors such as Bertelsmann India Investments and Pidilite Ventures also on its cap table, according to Tracxn.Pepperfry has faced headwinds in recent years following the sudden demise of cofounder Ambareesh Murthy in August 2023. Fellow cofounder Ashish Shah was elevated as chief executive the following month. In September 2024, chief financial officer Anand Batra resigned, with Madhusudan Bihani stepping into the role.Pepperfry’s growth has slowed amid intensifying competition. For FY24, it reported a 30.6% year-on-year decline to Rs 188.9 crore, though it narrowed its losses by 37.4% to Rs 117.4 crore.The company was valued at $352 million during its series F round, when it raised $23 million from Norwest Venture Partners, Pidilite Ventures, Ananta Capital, and Panthera Growth Partners, according to Tracxn.Pepperfry, which had initially planned a public listing, later deferred the move after engaging with bankers. Shah had earlier told ET that the company was prioritising growth and profitability. It had converted into a public entity in 2022 as part of its IPO preparations, which targeted a $250–300 million raise.TCC Concept provides real estate management and leasing services and operates a flexible office space aggregation platform under the Brantford brand. For FY25, it reported operating revenues of Rs 83.2 crore and net profit of Rs 42.1 crore.TCC said integrating Pepperfry with its portfolio would help enhance customer experience, create operational synergies, and open up new growth opportunities.
