TCC Concept Acquires Online Furniture Firm Pepperfry In Undisclosed Value, Shares Hit Upper Circuit
Pepperfry's acquisition is expected to support TCC's presence in the e-commerce and digital marketplace space, the company stated.
TCC Concept Ltd. on Friday announced the acquisition of furniture-major Pepperfry Ltd., as per an exchange filing.
The company has completed a term sheet to acquire 100% of Pepperfry's equity stake, they informed. "The transaction is subject to completion of satisfactory due diligence of Pepperfry, execution of definitive agreements and fulfilment of the conditions as may be applicable from time to time," the filing stated.
Pepperfry's acquisition is expected to support TCC's presence in the e-commerce and digital marketplace space, the company stated. "By integrating Pepperfry's established furniture and home goods marketplace with TCC's innovation and digital expertise, the company aims to enhance customer experience, create operational synergies, and unlock new growth opportunities," they stated.
This acquisition is in line with TCC's vision of building scalable and technology enabled consumer platforms, as per the filing.
TCC Share Price Today
The scrip is stuck in a 5% upper circuit at Rs 543.35, as of 01:45 p.m. This compares to a 0.39% decline in the BSE Sensex index.
It has fallen 6.67% on a year-to-date basis, but has risen 2.64% in the last 12 months. Total traded volume so far in the day stood at 1.19 times its 30-day average. The relative strength index was at 61.79.
No analysts currently track this counter, as per Bloomberg data.
