New Delhi, Sept. 19 -- Realty services company TCC Concept has signed a term sheet to acquire up to a 100% stake in omnichannel furniture and home goods platform Pepperfry, according to a stock exchange filing on Friday.
The company did not disclose the deal size or timeline for completion of the acquisition.
Following the news, shares of BSE-listed TCC Concept hit the 5% upper circuit on Friday, and closed at Rs.543.35.
TCC Concept said the proposed acquisition is aimed at strengthening its presence in the e-commerce and digital marketplace space, complementing its focus on technology-led platforms. It added that the integration of Pepperfry would enhance customer experience, create operational synergies and open new growth avenues.
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