"13th International Trade Fair for Furniture Production Technologies, Woodworking Machinery, Tools, Fittings, Accessories, Raw Materials and Products"
Pepperfry is aiming to raise $250-$300 million through the IPO. The company may file its prospectus in the first quarter (April-June) of FY 2022-23
Pepperfry, a furniture retailer, may file for an initial public offering (IPO) soon. According to a recent source, the company plans to raise $250-$300 million through the initial public offering. In addition, the company may file its prospectus in the first quarter of FY 2022-23 (April-June).
According to the report, Pepperfry CEO Ambreesh Murty stated that the company is "dedicated" to the IPO and has completed all of the necessary work.
Pepperfry is a Mumbai-based online furniture retailer. The corporation was valued at
$500 million in 2020, according to the report. Pidilite Industries and Goldman Sachs are among the investors. The company may also be in talks with additional investors for the pre-IPO offer, according to the report.
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.
Amazon India and Flipkart are two of the company's competitors. On their websites, several businesses have been expanding their furniture offers. According to a Mint analysis, the internet furniture business has been rising at a CAGR of 80-85 percent due to low pricing.
The furniture business accounts for 80% of the company's revenue, out of a total of 100%. Mattresses account up 10% of the total, while decor and other minor items account for 10%.