Purple Style Labs Sets Price Band At ₹546-575 Ahead Of 31 August IPO

Purple Style Labs Limited has fixed the price band for its initial public offering (IPO) at ₹546-575 per equity share of face value ₹10.

The issue will open for subscription on Monday, 31 August, and close on Wednesday, 2 September, with anchor investor allocation scheduled for Friday, 28 August. The lot size has been set at 26 equity shares, with bids permitted in multiples thereof.

Entirely A Fresh Issue

The IPO comprises entirely a fresh issue of 1.18 crore equity shares, taking the total issue size to ₹680 crore at the upper end of the price band, with expected net proceeds of ₹510.03 crore.

Of this, ₹371.13 crore will be invested in its wholly owned subsidiary, PSL Retail, to meet lease liabilities related to experience centres and back-end offices across India, while ₹138.90 crore has been set aside for sales and marketing activities to support expansion, customer acquisition and brand building.

The remaining funds will go towards general corporate purposes. Axis Capital is the book-running lead manager, with Kfin Technologies appointed as registrar.

Allotment And Listing Timeline

Allotment is expected to be finalised on Thursday, 3 September, with refunds to begin the following day and shares credited to successful allottees' demat accounts on the same day.

Listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) is tentatively scheduled for Monday, 7 September. Of the public issue, not more than 75% is reserved for qualified institutional buyers, not less than 15% for non-institutional investors, and not less than 10% for retail investors.

About Purple Style Labs

Purple Style Labs is the parent company of Pernia's Pop-Up Shop, a multi-brand luxury fashion omnichannel platform that it acquired in February 2018, when the business was primarily online-focused.

Since then, the company has built a physical presence spanning 14 experience centres across India and London, according to its draft red herring prospectus, with further locations planned in Mumbai and New York.

The platform currently offers more than 2 lakh products from over 1,300 designers, and recorded a gross merchandise value of more than ₹588 crore in FY25, with an average order value of ₹56,106. Revenue grew more than 11-fold from ₹45 crore in FY20 to ₹508 crore in FY24, representing a compound annual growth rate of approximately 83%.

Promoter Holding And Celebrity Investors

The company is promoted by founder Abhishek Agarwal, who holds a 27.10% stake. Its investor base includes institutional investors, family offices and several celebrity backers, among them Shah Rukh Khan, Salman Khan and family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.

Madhuri Dixit Nene was an early investor through convertible preference shares, while the Gauri Khan Family Trust participated in a rights issue in November 2024 and Sachin Tendulkar invested through a preferential allotment in March 2025, both at the price paid by institutional investors in the company's last private funding round, which valued the company at a post-money valuation of ₹3,662 crore.

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