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Pepperfry Puts Its IPO Plans on Hold

Omnichannel furniture retailer Pepperfry has deferred its plan for a public listing and will instead focus on achieving growth and profitability this financial year, cofounder and CEO Ashish Shah told ET. Founded in 2012, the startup had converted into a public company in 2022 in line with its plan for an initial public offering (IPO). The company was looking to raise $250-300 million through the IPO, its late cofounder and then CEO Ambareesh Murty told E’T in 2022.

“We have postponed our IPO plans for the time being. There are other important areas to focus on in the business. From a cost standpoint, we are strong. Therefore, we are focusing on growth now. We aim to go slow but get solid growth which is also profitable. If we continue this growth for 8-10 months, we will be IPO ready,” Shah said.

Mumbai based Pepperfry grew its revenue to ₹272.3 crore in FY23 from ₹247 crore in FY22, according to latest available data.

S-ET Image Source: Google

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