Pernia’s Pop Up Shop operator Purple Style Labs has announced the share price band for its Rs 680 crore initial public offering (IPO) between Rs 564 – 575 per share. The luxury fashion company’s IPO is entirely a fresh issue of 1.18 crore shares of face value Rs 10 each.
Of the total float, the company plans to invest the majority of the proceeds towards investment in its subsidiary. The IPO will open for subscription on August 31. Here are five important details investors should know
Purple Style Labs IPO: Lead managers and subscription timeline
The investment bankers for the Purple Style Labs IPO are Axis Capital and IIFL Capital, while Kfin Technologies is the registrar to the issue. The company will open its bidding window for anchor investors on August 27.
Public bidding will open on August 31 and close on September 2, with the share allotment process getting finalised the very next day on September 3. Investors will be credited with their shares and refunds by September 4, and the company is expected to list on NSE and BSE on September 7.
Purple Style Labs IPO: Utlization of proceeds
Of the total float, the company plans to invest over Rs 371.1 crore in its wholly owned subsidiary, PSL Retail, for funding its lease liabilities and back-end offices in India.
As per its red herring prospectus, nearly Rs 139 crore will be deployed towards funding its sales and marketing expenses, while the remaining will be utilised for general corporate purposes.
Purple Style Labs IPO: Lot Size
A retail investor can bid for a minimum of 26 shares, translating into an investment of Rs 14,950, while the maximum retail applicants can bid for is 13 lots, aggregating to Rs 1,94,450. For small high-net-worth individuals, the minimum lot size is 14, and the maximum is 66.
While Big HNIs can bid for a maximum of 67 lots.
Purple Style Labs IPO: FY26 financial statement
In FY26, the company’s net losses increased 51% year-on-year to Rs 285.40 crore from a net loss of Rs 188.38 crore reported in FY25. However, its revenue from operations during the same period expanded 14% YoY to Rs 557.8 crore against Rs 490 crore reported during the same time last year.
Currently, Pernia’s Pop-Up Shop operates a total of 14 experience centres, of which twelve are based in India, one in London, UK, and one in New York, USA.
About the company
Pernia’s Pop-Up Shop is an Indian multi-brand luxury omni-channel fashion platform with both an online presence and physical stores. The company sources designer brand clothes, jewellery, and accessories for women, men, and kids, primarily focusing on wedding and occasion wear.