Pernia’s Pop-Up Shop plans to raise Rs 250 crore ahead of IPO

Multi-brand luxury Indian fashion retailer Pernia‘s Pop-Up Shop plans to raise Rs 250 crore ahead of its initial public offering. The business also aims to expand its brick-and-mortar retail footprint in Mumbai and New Delhi.

“We plan to expand [the] Pernia’s Pop-Up Studio retail footprint in Mumbai and Delhi as, despite our current string presence, there remains untapped potential,” the business’ owner Purple Style Labs’ founder Abhishek Agarwal told the Economic Times. “So, the equity fund raise would be partly geared towards funding this expansion and the rest shall be used to repay existing debt to make Purple Style Labs debt-free on a consolidated level.”
 
Pernia’s Pop-Up Shop has mandated the firms Axis Capital and IIFL for its funding round. The business’ parent company Purple Style Labs reached a valuation of Rs 3,000 crore a year ago when it carried out its last funding round. The business’ timeline for its planned IPO is the coming 12 to 15 months, ET Retail reported.
 
The 2024 saw Pernia’s Pop-Up Shop report 37% year on year growth with a revenue of Rs 508 crore. The omni-channel retailer houses a wide range of established and up and coming fashion brands on its e-commerce  platform and in stores including Amit Aggarwal, Karo, Tarun Tahiliani, Papa Don’t Preach by Shubika, House of D’Oro, and Lovetobag among others, according to its website.