SRK-backed Pernia's Pop-Up is going public: All about the IPO
What's the story
Purple Style Labs, the parent company of luxury fashion platform Pernia's Pop-Up Shop, has announced the price band for its initial public offering (IPO). The company will offer 1.18 crore fresh equity shares at a price band of ₹546-₹575 per share. The IPO is expected to raise around ₹680 crore at the upper end of the price band. It will open for subscription on August 31 and close on September 2.
Investor interest
Celebrity investors in Purple Style Labs
The upcoming IPO has drawn a lot of celebrity attention. Bollywood stars Shah Rukh Khan and Madhuri Dixit, along with cricket icon Sachin Tendulkar, are among the high-profile investors in Purple Style Labs.
Other known celebrity investors include Salman Khan and his family as well as actor Mahesh Babu.
Financials
Financial performance and IPO details
Purple Style Labs posted a loss in FY2026, making its EPS (earnings per share) negative. This means the P/E ratio is not applicable.
The company plans to use the net proceeds from the IPO for retail expansion, marketing, and corporate purposes.
Axis Capital Ltd is the book-running lead manager for this issue while Kfin Technologies Ltd will be acting as registrar.
Growth strategy
Key uses of the net proceeds from the IPO
Purple Style Labs intends to invest ₹371.13 crore in its wholly owned subsidiary PSL Retail for lease liabilities of Experience Centers and back-end offices across India.
The company also plans to spend ₹138.90 crore on sales and marketing expenses to support its expansion, customer acquisition, and brand-building initiatives.
The remaining proceeds will be used for general corporate purposes with an expected net proceeds of ₹510.03 crore from this issue.
Financial growth
Revenue growth and product offerings
Purple Style Labs has seen a massive jump in revenue, from ₹45 crore in FY20 to ₹508 crore in FY24.
The company currently offers over 2 lakh products from more than 1,300 designers on its digital platform and at 14 Experience Centers.
With its expanding physical retail footprint and exposure to India's rapidly premiumizing wedding wear market, Purple Style Labs is gearing up for future growth with this IPO.