Purple Style Labs Raises ₹306 Cr from Anchor Investors for IPO

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Aug 28, 2026 19:55

Purple Style Labs, parent of Pernia's Pop-Up Shop, secured ₹306 Cr from anchor investors ahead of its ₹680 Cr IPO opening Aug 31. Funds for expansion.

Purple Style Labs Raises ₹306 Cr from Anchor Investors for IPO

Illustration: Dominic Xavier/Rediff.com

Key Points

Purple Style Labs raised Rs 306 crore from anchor investors for its upcoming Rs 680 crore IPO.
The IPO, opening August 31, will fund lease liabilities for experience centers and sales/marketing.
The company, parent of Pernia's Pop-Up Shop, is a luxury fashion platform with celebrity backing.
It offers over 2 lakh products from 1,300+ designers through digital and 14 physical centers.

New Delhi, Aug 28 (PTI) Purple Style Labs Ltd, the parent company of Pernia's Pop-Up Shop, on Friday raised Rs 306 crore from anchor investors ahead of its Rs 680-crore initial public offering (IPO), which will open for subscription on August 31.

The company has allotted 53.22 lakh equity shares to 10 anchor investors at Rs 575 per share, according to a circular uploaded on BSE's website.

Some of the investors participating in the anchor book include ICICI Prudential Mutual Fund, Jupiter India Fund, Aditya Birla Sun Life Insurance Company Ltd, ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies (Asia) Pte Ltd, Morgan Stanley Asia (Singapore) Pte and BoFA Securities Europe SA ODI.

The IPO will open on August 31 and close on September 2.

The IPO comprises a fresh issue of equity shares aggregating up to Rs 680 crore, with no offer-for-sale component.

The price band for the issue has been fixed at Rs 546-575 per share.

At the upper end of the price band, the issue values Purple Style Labs at a market capitalisation of over Rs 4,600 crore.

The company plans to utilise Rs 371.13 crore of the IPO proceeds for investment in its wholly-owned subsidiary PSL Retail towards lease liabilities of experience centres and back-end offices in India, while Rs 138.90 crore will be used for sales and marketing expenses.

The remaining proceeds will be used for general corporate purposes.

Purple Style Labs operates a multi-brand luxury fashion omni-channel platform and is promoted by Abhishek Agarwal. Its publicly disclosed celebrity investors include Shah Rukh Khan, Salman Khan and his family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.

The company currently offers more than 2 lakh products from over 1,300 designers through its digital platform and 14 experience centres.

Axis Capital and IIFL Capital Services are the book-running lead managers to the issue, while KFin Technologies is the registrar.

Source: PTI By Rediff Money Desk, New Delhi

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