Pepperfry IPO Expected To Hit The Bourses Soon, May File Prospectus Before June 2022

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New Delhi: Furniture retailer Pepperfry may file for an initial public issue (IPO) soon. According to a latest report by The Economic Times, the company is aiming to raise $250-$300 million through the IPO. Also, the company may file its prospectus in the first quarter (April-June) of FY 2022-23. The report also quoted Pepperfry’s CEO Ambreesh Murty saying that the company is ‘committed’ to the IPO and are completing all the required work for the issue.Also Read – Income Tax Return: Making Money From Stock Market? Here’s How to Declare it in ITR Filing

Pepperfry is an online furniture retailer based in Mumbai. In 2020, the company was valued at $500 million, the report added. It is backed by companies like Pidilite Industries and Goldman Sachs. However, the report further said that the company may also be in talks with other investors for the pre-IPO offer. Also Read – LIC IPO News: LIC May Be Valued At Rs 15 Lakh Crore, Will Make It Second Largest Company In India

The company has also been hit by the Covid-19 pandemic. The furniture industry was categorised in the non-essential business category. Pepperfry’s revenue dropped 10 per cent (around Rs 220 crore). But it is expecting a strong recovery. According to the report, the company may see close to 40-45 per cent growth in its revenue in the current fiscal. The company saw a loss of Rs 105 crore in FY21. Also Read – IPO News Today: Federal Bank Subsidiary FedFina To Hit The Bourses Soon, Starts IPO Process

The company competes with e-retailers like Amazon India and Flipkart. These companies have been increasing furniture offerings on their websites. The online furniture market has been growing at a CAGR of 80-85% due to low costs, a report by Mint had stated earlier.

Out of 100 per cent, 80 per cent of the company’s revenue depends on the furniture business. 10 per cent comes from mattresses and 10 per cent from decor and other smaller items.

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