Purple Style Labs invests ₹420cr in PSL Retail via IPO
Business
Purple Style Labs, the parent company of Pernia's Pop-Up Shop, is investing ₹420 crore in its own subsidiary, PSL Retail.
The money comes from its recent IPO and will be used to buy 42 crore new shares at ₹10 each between September 19 and 25.
This move helps the company keep complete ownership of PSL Retail.
PSL retail funds for India leases
The fresh funds are going toward lease liabilities of its experience centers and back-end offices in India, as well as for general corporate purposes.
PSL Retail reported ₹555.74 crore in revenue in FY26.
Still, investors seemed a bit wary: Purple Style Labs's stock dipped by 6.34% after the news broke.