- Purple Style Labs to launch Rs 680 crore IPO from August 31 to September 2
- IPO price band fixed between Rs 546 and Rs 575 per share with fresh equity issue
- Company operates Pernias Pop-Up Shop, a luxury fashion omnichannel platform
Purple Style Labs Ltd, the parent company of luxury fashion platform Pernia's Pop-Up Shop, is set to launch its Rs 680 crore initial public offering (IPO) on August 31, with the issue closing on September 2. The company has fixed the price band at Rs 546 to Rs 575 per share.
The IPO will comprise an entirely fresh issue of equity shares, with no offer for sale component. At the upper end of the price band, the issue implies a post-issue market capitalisation of about Rs 4,604 crore. The minimum bid is 26 shares, with investors required to bid in multiples of 26.
Purple Style Labs operates Pernia's Pop-Up Shop as a multi-brand luxury fashion omnichannel platform. Its business combines online channels, including its website and mobile application, with physical Experience Centres, telephone and digital sales, events and exhibitions.
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The platform offered curated products from 1,109 active designer brands as of March 31, 2026. Its portfolio covers womenswear, menswear, jewellery, accessories and kidswear, with a particular focus on wedding and occasion wear.
The company has 14 Experience Centres globally, including 12 in India and one each in London and New York.
In FY26, Purple Style Labs served 66,713 customers and recorded 95,565 orders. Gross merchandise value rose to Rs 721.56 crore from Rs 588.31 crore a year earlier, marking a 22.65% increase. Average order value also climbed 34.57% to Rs 75,504.88.
However, the company remained loss-making. Revenue from operations increased to Rs 557.84 crore in FY26 from Rs 489.91 crore in FY25.
Yet its net loss widened to Rs 285.40 crore from Rs 188.38 crore. EBITDA also declined to Rs 30.37 crore from Rs 41.99 crore, while the EBITDA margin fell to 5.44% from 8.57%.
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The company plans to use Rs 371.13 crore of IPO proceeds for lease liabilities through its wholly owned subsidiary PSL Retail. Another Rs 138.90 crore is earmarked for sales and marketing, with the remaining funds intended for general corporate purposes.
Axis Capital and IIFL Capital Services are the book-running lead managers, while KFin Technologies is the registrar.
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