Purple Style Labs Raises ₹306 Cr from Anchor Investors Ahead of IPO
By Business Desk
Purple Style Labs secures ₹306 crore from anchor investors before its ₹680 crore IPO opens August 31. Shares allocated at ₹575.
Purple Style Labs just locked in ₹306 crore from anchor investors. This pre-IPO round sets the stage for its ₹680-crore Initial Public Offering, kicking off Monday, August 31.
The IPO will close on Wednesday, September 2. The company allocated 53.21 lakh shares to 10 anchor investors at a price of ₹575 per share.
Key IPO Figures
- Anchor Investment: ₹306 crore
- Total IPO Size: ₹680 crore
- Shares Allocated to Anchors: 53.21 lakh
- Price Per Share: ₹575
- IPO Open Date: Monday, August 31
- IPO Close Date: Wednesday, September 2
The anchor book saw participation from both domestic and global institutional investors. About 33% of the anchor investor portion, or 17.39 lakh shares, went to two domestic mutual funds across three schemes.
Anchor Investors
- ICICI Prudential Mutual Fund
- Jupiter India Fund
- Aditya Birla Sun Life Insurance Company
- ITI Multi Cap Fund
- Singularity Equity Fund I
- Integrated Core Strategies Asia
- Morgan Stanley Asia Singapore
- BoFA Securities Europe SA – ODI
Purple Style Labs operates Pernia’s Pop-Up Shop (PPUS), a multi-brand luxury omni-channel fashion platform. It focuses on curated luxury items, particularly wedding and occasion wear, for womenswear, menswear, jewellery, accessories, and kidswear.
As of March 2026, the company sources products from 1,109 active designer brands, including names like Seema Gujral and Amit Aggarwal. Its business model integrates various sales channels, from experience centers to its mobile app.
Globally, Purple Style Labs maintains 14 experience centers as of March 2026, with 12 in India, one in London, and one in New York. Axis Capital and IIFL Capital Services are serving as the book-running lead managers for the IPO.