Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Studio, has fixed the price band for its Rs 680 crore initial public offering (IPO) at Rs 546–Rs 575 per equity share. The IPO will open for subscription on August 31 and close on September 2, offering investors an opportunity to participate in the company’s next phase of expansion.
18 crore equity shares, aggregating to Rs 680 crore at the upper end of the price band. The IPO has also drawn significant celebrity interest.
Bollywood stars Shah Rukh Khan and Madhuri Dixit, along with cricket icon Sachin Tendulkar, are among the prominent investors in Purple Style Labs. Other publicly disclosed celebrity investors include Salman Khan and his family, as well as actor Mahesh Babu.
IPO Details and ValuationAccording to the company’s restated consolidated financial statements, Purple Style Labs reported a loss in FY2026. As a result, its basic and diluted earnings per share (EPS) were negative, making the price-to-earnings (P/E) ratio inapplicable.
14%, indicating that investors may need to evaluate the IPO using factors beyond traditional earnings-based valuation measures. 6 times the face value of the equity shares, respectively.
The minimum bid is 26 equity shares, with subsequent bids required to be placed in multiples of 26 shares. Axis Capital Ltd.
is the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar.
IPO Proceeds: How Purple Style Labs Plans to Use the FundsPurple Style Labs plans to deploy the net proceeds from the IPO across several key areas. 13 crore will be invested in its wholly owned subsidiary, PSL Retail, to meet expenditure related to lease liabilities for Experience Centers and back-end offices across India.
90 crore has been earmarked for sales and marketing expenses, which will support the company’s expansion, customer acquisition and brand-building initiatives. The balance of the proceeds will be used for general corporate purposes.
03 crore. About Purple Style Labs and Pernia’s Pop-Up StudioPurple Style Labs is the parent company of Pernia’s Pop-Up Shop, a multi-brand luxury fashion omni-channel platform.
The company acquired Pernia’s Pop-Up Shop in February 2018, when the business was largely focused on online sales. Since then, the platform has expanded its physical presence significantly.
