Purple Style Labs Eyes ₹660 Cr IPO by Aug 2026
By Business Desk
Purple Style Labs, parent of Pernia’s Pop-Up Shop, aims to raise ₹660 crore via an IPO by August 2026. Filed with SEBI, funds target strategic growth.
Purple Style Labs, the company behind Pernia’s Pop-Up Shop, plans an Initial Public Offering (IPO) to secure ₹660 crore by the end of August 2026. The firm, backed by celebrities like Shah Rukh Khan, has filed its updated draft red herring prospectus (UDRHP) with market regulator SEBI.
This IPO will solely involve a fresh issue of shares, with no offer-for-sale component. The proceeds are earmarked for several strategic purposes across its operations in India.
Key Financials & Investor Backing
- IPO Target: ₹660 crore
- Prior Funding: ₹402 crore through eight private primary rounds
- Post-money Valuation: ₹3,662 crore
- Promoter Stake (Abhishek Agarwal): 27.10%
Before this public offering, Purple Style Labs had already raised approximately ₹402 crore from eight private primary funding rounds. These investments led to a post-money valuation of ₹3,662 crore for the company.
Funding Allocation and Support
The funds generated from the IPO are primarily intended to cover lease liabilities for PSL Retail, a wholly-owned subsidiary. These liabilities are associated with experience centers and back-end offices located across India.
A portion of the funds will also be directed towards sales and marketing initiatives, with the remaining capital allocated for general corporate purposes. Notable celebrity investors include Shah Rukh Khan, Sachin Tendulkar, Salman Khan and his family, Madhuri Dixit, and Mahesh Babu.