TCC Concept to acquire majority stake in Pepperfry for over INR 6.59 bn

TCC Concept Limited (TCC) has announced an extraordinary general meeting (EGM) on November 5, 2025, to seek shareholder approval for several key initiatives. A major agenda item is the proposed acquisition of a 95.18% stake in Pepperfry Limited on a fully-diluted basis, to be executed through a share swap arrangement dated October 14, 2025. This acquisition, valued at INR 6,59,44,06,861, involves issuing 1,18,19,109 equity shares of TCC at INR 557.9445 each on a preferential basis to Pepperfry shareholders.

To facilitate the acquisition and future investments, TCC proposes to increase its authorized share capital from INR 40,00,00,000 to INR 60,00,00,000. This increase will involve creating an additional 2,00,00,000 equity shares of INR 10 each. Additionally, shareholders will vote on increasing the limits for loans, investments, guarantees, and securities under Section 186 of the Companies Act, 2013, to INR 1,500 Crores for loans/guarantees and INR 2,000 Crores for investments.

The EGM will also address the adoption of the TCC Concept Limited Employee Stock Option Plan 2025 (ESOP Plan 2025), allowing for the grant of up to 35,00,000 employee stock options to eligible employees of TCC and its subsidiaries. This plan aims to retain key talent and align employee interests with the company's long-term growth.