Purple Style Labs Ltd raises ₹306 crore from anchor investors ahead of its ₹680-crore IPO

Purple Style Labs’ IPO will open on August 31 and close on September 2.

Purple Style Labs Ltd, the parent company of Pernia’s Pop-Up Shop, on Friday raised ₹306 crore from anchor investors ahead of its ₹680-crore initial public offering (IPO), which will open for subscription on August 31.

The company has allotted 53.22 lakh equity shares to 10 anchor investors at ₹575 per share, according to a circular uploaded on BSE’s website.

Some of the investors participating in the anchor book include ICICI Prudential Mutual Fund, Jupiter India Fund, Aditya Birla Sun Life Insurance Company Ltd, ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies (Asia) Pte Ltd, Morgan Stanley Asia (Singapore) Pte and BoFA Securities Europe SA ODI.

The IPO will open on August 31 and close on September 2.

The IPO comprises a fresh issue of equity shares aggregating up to ₹680 crore, with no offer-for-sale component.

The price band for the issue has been fixed at ₹546-575 per share.

At the upper end of the price band, the issue values Purple Style Labs at a market capitalisation of over ₹4,600 crore.

The company plans to utilise ₹371.13 crore of the IPO proceeds for investment in its wholly-owned subsidiary PSL Retail towards lease liabilities of experience centres and back-end offices in India, while ₹138.90 crore will be used for sales and marketing expenses.

The remaining proceeds will be used for general corporate purposes.

Purple Style Labs operates a multi-brand luxury fashion omni-channel platform and is promoted by Abhishek Agarwal. Its publicly disclosed celebrity investors include Shah Rukh Khan, Salman Khan and his family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.

The company currently offers more than 2 lakh products from over 1,300 designers through its digital platform and 14 experience centres.

Axis Capital and IIFL Capital Services are the book-running lead managers to the issue, while KFin Technologies is the registrar.

Published on August 28, 2026