Purple Style Labs Limited, the company behind luxury fashion platform Pernia’s Pop-Up Shop, hosted a press conference at The St. Regis Mumbai in Lower Parel on Wednesday, announcing key details of its upcoming Initial Public Offering (IPO). The company is set to open its ₹680 crore IPO for public subscription on Monday, August 31, with the issue closing on Wednesday, September 2, 2026.
The company has fixed the IPO price band at ₹546 to ₹575 per equity share. The issue will consist entirely of a fresh issue of equity shares, with no Offer for Sale (OFS) component. The anchor investor bidding period is scheduled for Friday, August 28, ahead of the public issue.
Investors will be able to bid for a minimum of 26 equity shares and in multiples of 26 shares thereafter. At the upper end of the price band, the minimum investment for one lot will therefore be ₹14,950. The company’s equity shares are proposed to be listed on the stock exchanges, with NSE and BSE being the designated exchanges for the issue. Axis Capital Limited and IIFL Capital Services Limited are acting as the book-running lead managers.
The press conference was attended by the senior leadership of Purple Style Labs, including Abhishek Agarwal, Promoter, Whole-Time Director and Chief Executive Officer; Abhinav Agarwal, Whole-Time Director and Chief Business Officer; Nivesh Pandey, Chief Strategy Officer; and Umesh Pawan Choudhary, Chief Financial Officer. The leadership team outlined the company’s business journey, its position in India’s growing luxury fashion market and its plans for expansion.
Purple Style Labs operates Pernia’s Pop-Up Shop, a multi-brand, omnichannel luxury fashion platform that connects customers with designer labels through digital and physical retail formats. The company has developed its presence across India and international markets through its experience centres, while its online platform offers a wide range of designer fashion and luxury products. Recent industry reports note that the platform works with more than 1,300 designers and offers over two lakh products through its digital platform and experience centres.
The upcoming IPO is expected to provide the company with capital to support its expansion strategy. According to the Red Herring Prospectus, a substantial portion of the proceeds is proposed to be invested in the company’s wholly owned subsidiary, PSL Retail, towards lease liabilities relating to experience centres and back-end offices in India. Around ₹138.90 crore is proposed to be utilised towards sales and marketing expenses, while the remaining proceeds will be used for general corporate purposes.
The IPO announcement comes at a time when India’s premium and luxury fashion market is witnessing increasing consumer interest, particularly in designer wear, occasion fashion and wedding-related purchases. Purple Style Labs has sought to build its position in this segment by combining online discovery with physical luxury retail experiences.
The company’s move towards the public markets marks an important milestone in its growth journey. The ₹680 crore issue is larger than the ₹660 crore issue size initially proposed when the company filed its earlier IPO papers. The revised issue will now give Purple Style Labs an opportunity to raise fresh capital as it looks to strengthen its retail network, invest in marketing and scale its luxury fashion business.
With the anchor bidding scheduled for August 28 and the public issue opening on August 31, investor attention will now turn towards Purple Style Labs’ debut in the capital markets. The company’s IPO will remain open until September 2, offering investors an opportunity to participate in the next phase of growth of the Pernia’s Pop-Up Shop business.
Subscribe Deshwale on YouTube
