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D2C furniture brand Pepperfry has postponed its initial public offering (IPO) plans after engaging with bankers over the past year to enter the public market, founder and CEO Ashish Shah said.

The company will instead focus on growth and profitability in the current financial year.

Founded in January 2012 by late Ambareesh Murty and Shah, Pepperfry sells a wide range of furniture and other home products through its website, ecommerce marketplaces, and offline stores.

The company has been preparing for its initial public offering (IPO) since early 2022. In line with this, it even converted itself into a public entity in May 2022.

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Pepperfry postpones IPO focuses on growth profitability furniture and home decor marketplace reduces cash burn Ashish Shah CEO founder IPO plans delayed growth revival business focus cost structure solid growth sequential revenue growth fiscal year consumer spending real estate demand startup performance.