NEW DELHI — Purple Style Labs Limited, the parent company of multi-brand luxury fashion platform Pernia’s Pop-Up Shop, raised ₹306 crore from 10 anchor investors ahead of its ₹680-crore Initial Public Offering (IPO).
The company allotted 53,21,739 equity shares to institutional investors at ₹575 per equity share—the upper band of its issue price range.
Anchor Book Highlights
Major institutional investors participating in the anchor allocation include:
ICICI Prudential Mutual Fund: The largest participant, acquiring shares worth roughly ₹88 crore.
Jupiter India Fund: Invested ₹75 crore.
Aditya Birla Sun Life Insurance: Picked up shares worth ₹68 crore.
Global & Domestic Funds: ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies (Asia), Morgan Stanley Asia (Singapore), and BofA Securities Europe.
Domestic mutual funds collectively picked up 32.68% of the total anchor allocation across three schemes.
Key IPO Terms & Timelines
| Parameter | Details |
| IPO Subscription Dates | August 31 to September 2 |
| Price Band | ₹546 – ₹575 per share |
| Issue Size | ₹680 crore (100% Fresh Issue, No OFS) |
| Market Capitalization | Over ₹4,600 crore (at upper price band) |
| Lot Size | 26 shares (Min. investment: ₹14,950) |
| Listing Exchanges | BSE & NSE |
| Lead Managers | Axis Capital Ltd, IIFL Capital Services Ltd |
| Registrar | KFin Technologies Ltd |
Business & Financial Overview
Founded by Abhishek Agarwal, Purple Style Labs operates an omni-channel luxury platform offering over 2 lakh products from more than 1,300 designer brands (including Amit Aggarwal, Seema Gujral, and Anushree Reddy). The platform operates digitally as well as through physical experience centers. The company has attracted notable celebrity backers, including Shah Rukh Khan, Salman Khan, Sachin Tendulkar, and Madhuri Dixit.
Revenue Growth: Revenue from operations grew to ₹558 crore in FY26, up from ₹490 crore in FY25.
Bottom-line: Net loss stood at ₹285 crore for the fiscal year ending March 2026.
Use of Proceeds: Out of the net proceeds, ₹371.13 crore is earmarked for its subsidiary PSL Retail to fund lease liabilities for experience centers and back-end offices. Another ₹138.90 crore will be deployed toward sales and marketing, with the remainder reserved for general corporate purposes.