TCC Concept Ltd allots shares on acquisition of Pepperfry Ltd

The Management Committee of the Board of Directors of TCC Concept Limited ("the Company"), at its meeting held today, has, considered and approved the allotment of 1,06,10,690 equity shares on a preferential basis to the shareholders of Pepperfry Limited ("Pepperfry") for consideration other than cash, pursuant to the acquisition of 89.09% stake in Pepperfry through a share swap. Consequent to the said acquisition, Pepperfry has become a subsidiary of the Company.

Founded in 2012 by Late Mr. Ambareesh Murty and Mr. Ashish Shah, Pepperfry is India's largest omnichannel furniture and home goods ecommerce marketplace. With a robust supply chain, 150+ studios across 100+ cities, and Assisted Buying services, it ensures a seamless customer experience. Pepperfry has redefined how India shops for furniture and home décor.

The acquisition of Pepperfry will strengthen the Company's presence in the e-commerce and digital marketplace space, complementing its core focus on technology-driven platforms. By integration of Pepperfry's established furniture and home goods marketplace with the Company's innovation and digital expertise, the Company will enhance customer experience, create operational synergies, and unlock new growth opportunities. This acquisition is in line with the Company's vision of building scalable and technology-enabled consumer platforms.

Shares of TCC Concept LTD. was last trading in BSE at Rs. 422.45 as compared to the previous close of Rs. 442.45. The total number of shares traded during the day was 9958 in over 277 trades.

The stock hit an intraday high of Rs. 444.05 and intraday low of 412.00. The net turnover during the day was Rs. 4234640.00.

Source : Equity Bulls

Keywords

TCCConcept INE887D01016 Acquisition Pepperfry SharesAllotment