Can you tell me about the proposed IPO of Pepperfry?

One of India’s most popular omnichannel digital furniture market place, Pepperfry, will be shortly filing its draft red herring prospectus (DRHP) with SEBI. The IPO filing will be done in June and the IPO may take another 3-4 months for the approval from SEBI and other formalities. Pepperfry has already appointed ICICI Securities, Axis Capital and JP Morgan as the book running lead managers (BRLMs) to the proposed issue.

While final details are awaited, the issue size is expected to be $250 million or close to Rs2,000 crore. It will be a mix of a fresh issue and an offer for sale. Early investors like Norwest, Broadstreet, Bertelsmann and GE Pensions will take partial or total exit via the OFS route. Pidilite, the manufacturers of Fevicol, have also invested in Pepperfry. Currently, Pepperfry has 1.2 lakh products on offer in its catalogue and over 60 lakh registered users. As of now, the company is still making losses.