SynopsisShah Rukh Khan, Madhuri Dixit and Sachin Tendulkar are among investors in Purple Style Labs, the parent of Pernia’s Pop-Up Shop, which is gearing up for a ₹660 crore IPO by August-end. The company has received Sebi approval and has expanded from an online platform into physical retail, with 14 Experience Centres across India and London.

ET OnlineShah Rukh Khan, Madhuri Dixit and Sachin Tendulkar are among investors in Purple Style Labs. Bollywood superstars Shah Rukh Khan and Madhuri Dixit, along with cricket legend Sachin Tendulkar, have invested in Purple Style Labs, which is now gearing up for a Rs 660 crore initial public offering (IPO) that could hit Dalal Street by August-end.

Purple Style Labs, the parent company of luxury fashion omnichannel platform Pernia’s Pop-Up Shop, has filed an updated draft red herring prospectus (DRHP) with market regulator Sebi. The company received Sebi’s approval for the IPO in January this year.

Purple Style Labs acquired Pernia’s Pop-Up Shop in February 2018, when it was primarily an online-only platform. The business has since expanded into physical retail, reporting Rs 508 crore in revenue in FY24.

According to the DRHP, it currently operates 14 Experience Centres across India and London, with plans to expand further in Mumbai and New York. The company is benefitting from its move into offline stores.

In its DRHP, the company said that the Indian wedding and occasion wear market is undergoing a clear shift toward premiumization, as evident from the changing segmentation by price tiers between FY25 and FY30. The growing preference for higher-quality, experience-led weddings is accelerating the shift toward premium and luxury segments, it said, adding that this trend is driven by rising disposable incomes, evolving consumer aspirations, and a greater willingness to spend on milestone celebrations.

4 lakh crore by FY30. 10% stake in the company, Purple Style Labs is backed by institutional investors, family offices and private investors.

Its publicly disclosed celebrity investors include Shah Rukh Khan, Salman Khan and his family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu. Madhuri Dixit Nene came in earliest among the celebrity investors, through convertible preference shares.

The Gauri Khan Family Trust subscribed in a rights issue in November 2024 and Tendulkar in a preferential allotment in March 2025, both at the price institutional funds were paying in the last private round, which closed at a post-money valuation of Rs 3,662 crore. The proposed IPO is a fresh issue of up to Rs 660 crore with no offer for sale (OFS) component, which means every existing shareholder, these three included, stays invested through the listing.