Cyril Amarchand Mangaldas has advised Pernia’s Pop Up Shop (Purple Style Labs Limited) on its initial public offering (IPO), through which the company has raised INR 680 crore. Khaitan & Co acted as legal counsel to the book running lead managers, Axis Capital and IIFL Capital Services, while A&O Shearman acted as international counsel to the BRLMs.
The IPO comprised an entirely fresh issue of 1.18 crore equity shares, with no offer-for-sale component.
The price band was fixed at INR 546 to INR 575 per equity share, valuing the company at about INR 4,603.5 crore at the upper end of the price band.
The IPO opened for subscription on August 31 and closed on September 2, 2026.
Pernia’s Pop Up Shop operates as a luxury fashion and design platform offering bridal trousseau, festive and ethnic wear, ready-to-wear collections and designer menswear.
CAM’s transaction team was led by partner and head – capital markets Manan Lahoty, and partner Priyadarshini Rao, with support from principal associate Radhika Pandey, and associates Anomitra Debnath, Khushi Parekh and Nikshetaa Jain.
Khaitan’s transaction team comprised partners Subhayu Sen and Aparna Bagree, senior associates Ira Pandya and Aayush Virani, and associates Ria Chaudhary and Aayushi Poddar.
A&O Shearman’s team was led by partner Pallavi Gopinath Aney, along with senior associate Serena Upadhyay.
