Modern Bharat
Pepperfry IPO: Pepperfry in preparation for listing on stock exchange

Pepperfry IPO: Pepperfry in preparation for listing on stock exchange

Pepperfry IPO: Omnichannel furniture company Pepperfry is preparing for listing on the Stock Exchanges. The company may soon file a draft paper for the IPO (Initial Public Offering) with the stock market regulator SEBI (Securities and Exchange Board of India). It is believed that the company can file DRHP with SEBI between October and December.

Pepperfry, a Goldman Sachs-backed startup company, was planning to launch an IPO earlier this year. But the company had shelved the plan to bring IPO after the stock market sentiment deteriorated. Pepperfry was initially aiming to raise Rs 2,000 -2400 crore through IPO.

The company has appointed JP Morgan and ICICI Bank as investment banks to bring the IPO. When Pepperfry raised capital in 2020, then the valuation of the company was estimated at $ 500 million i.e. Rs 4,000 crore.

Pepperfry is a veteran name in the online furniture segment. The company’s revenue from operations in 2021-22 was Rs 247 crore. In 2020-21, the company’s revenue declined by 10 percent due to the Kovid epidemic. The company earns a commission from the furniture sold through the e-commerce platform.

However, Pepperfry is planning to bring IPO at a time when IPOs of tech-based companies have performed very badly on the stock exchange. So the companies which were planning to bring IPO have been postponed for the time being.

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