Purple Style Labs IPO price band: The Purple Style Labs Limited IPO price band has been fixed in the range of ₹546 to ₹575 per equity share of the face value of ₹10. The Purple Style Labs IPO date of subscription is scheduled for Monday, 31 August and will close on Wednesday, 2 September. The allocation to anchor investors for the Purple Style Labs IPO is scheduled to take place on Friday, 28 August.
The Purple Style Labs IPO lot size is 26 equity shares and in multiples of 26 equity shares thereafter.
Purple Style Labs IPO has reserved not more than 75% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 10% of the offer is reserved for retail investors.
Tentatively, Purple Style Labs IPO basis of allotment of shares will be finalised on Thursday, 3 September and the company will initiate refunds on Friday, 4 September, while the shares will be credited to the demat account of allottees on the same day following refund. Purple Style Labs share price is likely to be listed on BSE and NSE on Monday, 7 September.
Purple Style Labs IPO details
The IPO comprises entirely a fresh issue of 1.18 crore equity shares, with the total issue size amounting to ₹680 crore at the upper end of the price band.
Axis Capital Ltd. is the book-running lead manager to the issue, while Kfin Technologies Ltd. has been appointed as the registrar.
Purple Style Labs plans to utilise the IPO proceeds towards multiple business requirements. The largest portion, ₹371.13 crore, will be invested in its wholly owned subsidiary, PSL Retail, to meet expenses related to lease liabilities for Experience Centres and back-end offices across India.
The company has earmarked another ₹138.90 crore for sales and marketing activities, which will support expansion, customer acquisition and brand-building initiatives.
The remaining funds will be utilised for general corporate purposes. Overall, the IPO is expected to generate net proceeds of ₹510.03 crore.
Company details
Purple Style Labs is the parent company of Pernia’s Pop-Up Shop, a multi-brand luxury fashion omnichannel platform. The company acquired Pernia’s Pop-Up Shop in February 2018, when the business was primarily focused on online sales.
Since the acquisition, Purple Style Labs has significantly expanded its offline footprint. According to its DRHP, the company operated 14 Experience Centres across India and London, with plans to add more locations in Mumbai and New York. Its revenue stood at ₹508 crore in FY24.
The company expects its growing physical presence to benefit from the premiumisation of India’s wedding and occasion-wear market. In its DRHP, Purple Style Labs said consumers are increasingly moving towards higher-priced segments, a trend expected to continue between FY25 and FY30.
Purple Style Labs has delivered significant revenue growth in recent years. Its revenue increased more than 11-fold from ₹45 crore in FY20 to ₹508 crore in FY24, translating into an approximate compound annual growth rate of 83%.
Pernia’s Pop-Up Shop currently offers more than 2 lakh products from over 1,300 designers through its digital platform and 14 Experience Centres. The platform recorded a gross merchandise value (GMV) of more than ₹588 crore in FY25, while its average order value stood at ₹56,106.
Celebrity and institutional backing
Purple Style Labs was founded and is promoted by Abhishek Agarwal, who holds a 27.10% stake in the company. Over the years, the business has raised capital from institutional investors, family offices, and private investors, as well as several prominent celebrity backers.
Its publicly disclosed celebrity investors include Shah Rukh Khan, Salman Khan and his family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.
Madhuri Dixit Nene was among the company’s early celebrity investors, investing through convertible preference shares. The Gauri Khan Family Trust participated in a rights issue in November 2024, while Sachin Tendulkar invested through a preferential allotment in March 2025.
Both investments were made at the same price paid by institutional investors in the company’s last private funding round, which valued Purple Style Labs at a post-money valuation of ₹3,662 crore.
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