Purple Style Labs IPO priced ₹546-₹575 aims to raise ₹680cr
Purple Style Labs, the company behind Pernia's Pop-Up Shop, is going public with an IPO priced between ₹546 and ₹575 per share.
You can apply from August 31 to September 2, while anchor investors get their turn on August 28.
The company aims to raise up to ₹680 crore by issuing 1.18 crore new shares.
Purple Style Labs: ₹371.13cr for leases
Most of the funds (about ₹371.13 crore) will be used for expenses related to lease liabilities for Experience Centres and back-end offices across India, with ₹138.90 crore set aside for sales and marketing and the rest for general corporate purposes.
The IPO is mainly targeted at big institutional investors (75%), but there's room for non-institutional investors (15%) and retail investors (10%) too.
Purple Style Labs pulled in ₹508 crore revenue in FY24 and has been growing fast, about 83% annually, thanks to its growing physical presence.