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A&O Shearman advises the underwriters on Purple Style Labs’ INR6.8 billion IPO

A&O Shearman advises the underwriters on Purple Style Labs’ INR6.8 billion IPO
Published Date
Sep 7, 2026
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Image of Pallavi Gopinath Aney
Pallavi Gopinath AneyPartner, Singapore
Image of Mark Leemen
Mark LeemenPartner, Sydney
Image of Serena Upadhyay
Serena UpadhyaySenior Associate, Singapore
Purple Style Labs Limited (PSL), one of India's leading luxury fashion platforms, completed its INR6.8bn initial public offering (IPO), with shares listed on the National Stock Exchange of India Limited and BSE Limited on September 7, 2026. A&O Shearman acted as the sole international legal counsel to the underwriters on this landmark transaction.
PSL's IPO marks a significant milestone for India's luxury fashion industry, being among the first platforms in this segment to access the public markets. The proceeds from the offering will fund lease liabilities for PSL's experience centers and support sales and marketing initiatives, underscoring the company’s commitment to expanding its omni-channel presence. This transaction reflects the continuing depth and maturity of India’s equity capital markets and highlights growing investor confidence in the country’s premium consumer sectors.

“PSL’s listing is an important milestone for India’s luxury fashion sector and reflects the continuing depth and maturity of India’s capital markets.”

“PSL’s listing is an important milestone for India’s luxury fashion sector and reflects the continuing depth and maturity of India’s capital markets. We supported the underwriters on a transaction that demonstrates the growing range of businesses accessing India’s public markets,” said Pallavi Gopinath Aney, partner, A&O Shearman.

The A&O Shearman team was led by partners Pallavi Gopinath Aney and Mark Leemen, with support from Serena Upadhyay and Rajshree Agarwal. The team advised on complex cross-border regulatory considerations and ensured seamless execution within tight timelines.

As transactions across Asia-Pacific continue to grow in scale and complexity, the value of a seamlessly connected regional platform becomes increasingly clear. A&O Shearman’s Capital Markets practice holds a Band 1 ranking for Capital Markets—Debt and Equity (Asia-Pacific Region) in the latest Chambers Asia-Pacific Guide, alongside top-tier rankings across several key APAC markets. These recognitions reflect the exceptional talent across our teams, the strength of our regional collaboration, and our shared commitment to delivering outstanding outcomes for clients on some of the region’s most complex cross-border transactions.

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