Purple Style Labs IPO: Rs 716 Cr Issue Opens Aug 31

Purple Style Labs is launching its initial public offering to raise up to Rs 716 crore, with the subscription window opening on August 31, 2026.

IPO Details at a Glance

• The book building IPO consists of 1,24,54,212 shares.
• Shares are priced in a band of Rs 546 – 575 per equity share.
• Each share carries a face value of Rs 10.
• Subscription closes on September 2, 2026.
• The issue is priced 54.60 times its face value on the lower side and 57.50 times on the higher side.

Investor Categories

• Qualified Institutional Buyers (QIBs) will receive not more than 75% of the issue, with 5% specifically for mutual funds.
• Non-institutional bidders are allocated not less than 15%.
• Retail investors will be offered the remaining 10% of the issue.

Purple Style Labs operates in retail, selling apparel, jewellery, accessories, and lifestyle products from various designer brands. Its primary brand, Pernia’s Pop-Up Shop (PPUS), functions as a multi-brand luxury omni-channel fashion platform across India and globally.

The company provides a comprehensive solution for customer shopping and styling needs through its online platforms, including www.perniaspopupshop.com and a mobile app, alongside physical Pernia’s Pop-Up Studio stores.

Axis Capital and IIFL Capital Services are the book running lead managers for the issue. Gulshan Mumtaz Khan serves as the compliance officer, with shares slated for listing on both the BSE and NSE.

Planned Use of Proceeds

• Investment in its wholly owned subsidiary, PSL Retail, for lease liabilities related to experience centers and back-end offices in India.
• Funding for the company’s sales and marketing expenses.