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Purple Style Labs to Raise ₹680 Crore in IPO Priced Between ₹546-₹575

Pernia plans to raise ₹680 crore via an IPO priced between ₹546 and ₹575 per share, with significant funds directed to its subsidiary, PSL Retail.

Methly Agarwal | | 1 min read

Purple Style Labs to Raise ₹680 Crore in IPO Priced Between ₹546-₹575
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In Brief

  1. Purple Style Labs (Pernia’s Pop-Up Studio) aims to raise up to ₹680 crore through an IPO.
  2. The price band is set at ₹546–₹575 per share, with a minimum bid lot of 26 shares.
  3. About ₹371 crore will be invested in subsidiary PSL Retail to expand physical stores and cover lease liabilities.
  4. Funds will support omnichannel expansion, boosting both online operations and offline retail presence.

Purple Style Labs (PSL), the parent company of luxury fashion platform Pernia’s Pop-Up Studio, plans to raise up to ₹680 crore through its initial public offering (IPO). The IPO price band is set between ₹546 and ₹575 per equity share, with a minimum bid requirement of 26 shares and multiples thereof. The funds raised will provide PSL with additional capital to support its expansion, focusing on increasing its physical retail footprint and enhancing its omnichannel growth strategy.

A substantial portion of the proceeds, approximately ₹371 crore, will be invested in PSL Retail, the company’s wholly owned subsidiary. This investment aims to strengthen retail operations and support future growth across both online and offline channels. This IPO marks a significant step in PSL’s growth strategy, enabling access to fresh capital to bolster its luxury apparel business, expand its physical presence, and pursue broader ambitions in the luxury fashion market.

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