Pernia's Pop Up Shop Files ₹660 Crore IPO
Pernia's Pop Up Shop, a Mumbai-based design platform, has filed a Draft Red Herring Prospectus for an initial public offering (IPO) of equity shares worth ₹660 crore. Cyril Amarchand Mangaldas advised the company on this IPO, while Allen & Overy Shearman acted as international counsel for the underwriters.
Pernia's Pop Up Shop offers a diverse range of products, including bridal trousseau selections, festive attire, ethnic wear, ready-to-wear collections, and designer menswear. The company, known for its online mode and celebrity collaborations, has not previously announced or conducted an IPO. Cyril Amarchand Mangaldas, a leading Indian law firm for capital market transactions, has advised on the IPO.
Khaitan & Co acted as legal counsel to the book running lead managers Axis Capital Limited and IIFL Capital Services Limited for this IPO.
Pernia's Pop Up Shop's IPO, aggregating to ₹660 crore, is expected to bring significant changes to the company's financial status. Cyril Amarchand Mangaldas' involvement as legal advisor indicates the complexity and importance of the transaction. The IPO is subject to market conditions and regulatory approvals.
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