Purple Style Labs Files DRHP For IPO To Raise Rs 660 Crore In Fresh Issue
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.
Purple Style Labs Ltd. filed preliminary papers with the capital markets regulator SEBI on Monday to raise funds via an initial public offering. The public offer will include only fresh issues of shares worth Rs 660 crore.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 130 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
Axis Capital Ltd. and IIFL Capital Services Ltd. are the book-running lead managers for the issue and Kfin Technologies Ltd. will be the registrar of the issue.
Proceeds from the fresh issue worth Rs 363.29 crore will be used as investment in the firms wholly owned subsidiary PSL Retail for expenditure towards lease liabilities of experience centres and back-end offices in India. Purple Style Labs will use Rs 128 crore to fund sales and marketing expenses. A part of the funds will be used for the general corporate purposes.
The Mumbai-based company is a multi-brand luxury omni-channel fashion platform in India in terms of revenue in fiscal 2024. Pernia's Pop-Up Shop's omni-channel platform includes Experience Centers, the online platforms of PPUS including website, mobile application, other telephonic and digital sales channels and events and exhibitions, among others. Through its platform it curate's selections in luxury fashion that is sources from 1,312 active designed brands.
The revenue from operations in fiscal 2025 fell 2.9% to Rs 489.91 crore in comparison to Rs 504.37 crore. The loss for the financial year 2025 was at Rs 188.55 crore from Rs 47.71 crore reported in financial year ended March 2024.
