Purple Style Labs IPO opens on August 31; check dates, lot size, investors & other key details
Purple Style Labs IPO opens on August 31. Check the issue size, subscription dates, lot size, investor allocation, business model and financial performance.
- Aug 26, 2026,
- Updated Aug 26, 2026 11:28 AM IST
Purple Style Labs, the Mumbai-based operator of the multi-brand luxury fashion platform Pernia's Pop-Up Shop, has fixed the price band at Rs 546-575 per share for its Rs 680-crore initial public offering. The IPO will open for public subscription on August 31 and close on September 2, while the one-day anchor book will open on August 28.
The issue is entirely a fresh issue, and the company is seeking a market capitalisation of Rs 4,603.5 crore at the upper end of the price band. Purple Style Labs is backed by investors including Akash Bhanshali, Madhusudan Kela and Mukul Mahavir Agrawal.
The company said Rs 371.1 crore of the net issue proceeds will be invested in its subsidiary, PSL Retail, for lease liabilities related to Experience Centres and back-end offices in India. Another Rs 138.9 crore will be used for sales and marketing expenses, while the remaining proceeds will go towards general corporate purposes.
Purple Style Labs offers curated luxury fashion from designer brands, with a focus on wedding and occasion wear. It operates through 12 Experience Centres and two back-end offices in India, which are run by PSL Retail on a leave-and-licence basis. Pernia's Pop-up Studio serves customers in India and abroad through an omnichannel network that includes experience centres, its mobile application and website, telephonic and digital sales channels, and events and exhibitions.
One lot consists of 26 shares, and bids can be made in multiples of 26 shares thereafter. The company has reserved 75 per cent of the offer for qualified institutional buyers, 10 per cent for retail investors and 15 per cent for non-institutional investors. Retail investors can bid for a minimum of 26 equity shares, taking the minimum investment to Rs 14,950, while the maximum investment stands at Rs 1,94,350.
The company has reported losses in recent financial years and an uneven revenue trend. It posted a net loss of Rs 285.3 crore in fiscal 2026, compared with Rs 188.3 crore in the previous year. Revenue rose 13.9 per cent year-on-year to Rs 557.8 crore in the year ended March 2026, after falling 2.9 per cent year-on-year to Rs 489.9 crore in FY25.
Among its investors, Akash Bhanshali-sponsored Volrado Venture Partners Fund II holds a 2.41 per cent stake in the company, Madhusudan Kela-backed Singularity AMC holds 1.6 per cent, and Mukul Mahavir Agrawal holds 1.18 per cent. Axis Capital and IIFL Capital Services are the book-running lead managers to the issue, while Kfin Technologies Ltd. is the registrar.
Purple Style Labs, the Mumbai-based operator of the multi-brand luxury fashion platform Pernia's Pop-Up Shop, has fixed the price band at Rs 546-575 per share for its Rs 680-crore initial public offering. The IPO will open for public subscription on August 31 and close on September 2, while the one-day anchor book will open on August 28.
The issue is entirely a fresh issue, and the company is seeking a market capitalisation of Rs 4,603.5 crore at the upper end of the price band. Purple Style Labs is backed by investors including Akash Bhanshali, Madhusudan Kela and Mukul Mahavir Agrawal.
The company said Rs 371.1 crore of the net issue proceeds will be invested in its subsidiary, PSL Retail, for lease liabilities related to Experience Centres and back-end offices in India. Another Rs 138.9 crore will be used for sales and marketing expenses, while the remaining proceeds will go towards general corporate purposes.
Purple Style Labs offers curated luxury fashion from designer brands, with a focus on wedding and occasion wear. It operates through 12 Experience Centres and two back-end offices in India, which are run by PSL Retail on a leave-and-licence basis. Pernia's Pop-up Studio serves customers in India and abroad through an omnichannel network that includes experience centres, its mobile application and website, telephonic and digital sales channels, and events and exhibitions.
One lot consists of 26 shares, and bids can be made in multiples of 26 shares thereafter. The company has reserved 75 per cent of the offer for qualified institutional buyers, 10 per cent for retail investors and 15 per cent for non-institutional investors. Retail investors can bid for a minimum of 26 equity shares, taking the minimum investment to Rs 14,950, while the maximum investment stands at Rs 1,94,350.
The company has reported losses in recent financial years and an uneven revenue trend. It posted a net loss of Rs 285.3 crore in fiscal 2026, compared with Rs 188.3 crore in the previous year. Revenue rose 13.9 per cent year-on-year to Rs 557.8 crore in the year ended March 2026, after falling 2.9 per cent year-on-year to Rs 489.9 crore in FY25.
Among its investors, Akash Bhanshali-sponsored Volrado Venture Partners Fund II holds a 2.41 per cent stake in the company, Madhusudan Kela-backed Singularity AMC holds 1.6 per cent, and Mukul Mahavir Agrawal holds 1.18 per cent. Axis Capital and IIFL Capital Services are the book-running lead managers to the issue, while Kfin Technologies Ltd. is the registrar.