A person with knowledge of the situation stated that Pepperfry, an omnichannel furniture retailer, plans to list publically next year and is expected to submit draft papers for its Initial Public Offering (IPO) during the quarter between October and December.
An unfavorable market forced the Goldman Sachs-backed business to postpone its IPO plans earlier this year.
“They are looking to file the draft red herring prospectus (DRHP) (with India’s capital markets regulator Sebi) in the subsequent quarter,” the source said.
The individual also said that by November, the corporation will make a decision.
JP Morgan and ICICI Bank have been chosen by the business to oversee the IPO process.
When it sought money in 2020, the Mumbai-based e-commerce player’s final estimated market worth was $500 million.
In the meantime, Pepperfry, one of the few independent online furniture retailers, reported a 22% increase in operating revenue in FY22, to around Rs 247 crore.
This followed a 10% decline in the indicator in FY21 due to Covid-19.
By charging commissions for purchases made through its site, Pepperfry generates income.
A gross merchandise value (GMV) of Rs 1,185 crore was reported by the corporation for FY22. The same period saw an 83% increase in losses, reaching Rs 194 crore.
