Online furniture retailer Pepperfry is likely to file its draft red herring prospectus (DRHP) by July 2022 for an initial public offering (IPO) in which the company is looking to raise Rs 2,000-2,500 crore, sources told CNBC-TV18.
The online marketplace for furniture and home decor has already mandated investment banks for the proposed listing, the first of its kind in the fragmented segment.
The IPO is likely to be a mix of Offer For Sale (OFS) and fresh issue but the proportion of the mix is yet to be decided, sourced added.
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According to the people in the know, the issue is expected to give a partial exit to certain investors and raise capital for growth.
Firms like Norwest Ventures, Broadstreet Investments, General Electric Pension Trust, Goldman Sachs, State Street Global Advisors and Bertelsmann are investors in Pepperfry.
Valuation of the IPO is likely to be at Rs 8,000-10,000 crore, the sources added.
Here's a look at the omnichannel retailer's financials:
| FY21 | FY20 | |
| Total Income (in Rs crore) | 221 | 245 |
| Marketing Expenses (in Rs crore) | 106 | 112 |
| Total Expenses (in Rs crore) | 327 | 413 |
| Net Loss (in Rs crore) | 105 | 167 |
The company raised $40 million in an expansion round headed by Pidilite Industries, the developer of the popular adhesive brand Fevicol, in February 2020.
About the company
Founded by Ambareesh Murty and Ashish Shah in January 2012, Pepperfry sells a wide range of products on its website. It also has an offline presence via a franchise model.
It has more than 1.2 lakh products and more than 60 lakh registered users across more than 500 cities, according to the website.
First Published: May 24, 2022 2:04 PM IST
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