Purple Style Labs IPO: Price band set at ₹546-575/share, issue to open Aug 31
IPO comprises fresh issue of equity shares aggregating up to ₹680 crore with no OFS component
Purple Style Labs Ltd, the parent company of Pernia's Pop-Up Shop, has announced the price band for its ₹680 crore Initial Public Offering (IPO) at ₹546-575 per share. The public issue, which will open for subscription on August 31, will run for three days and close on September 2. Anchor investor bidding will occur on August 28.
The IPO comprises a fresh issue of equity shares up to ₹680 crore, with no Offer For Sale (OFS) component. The funds raised will be allocated towards investments in Purple Style Labs' wholly-owned subsidiary, PSL Retail, for lease liabilities, sales and marketing expenses, and general corporate purposes. The IPO marks Purple Style Labs' debut in the public markets, occurring at a time when India's wedding and luxury consumption markets are experiencing strong growth.
The company, promoted by Abhishek Agarwal and backed by institutional investors, celebrity investors, and private investors, is also expanding its retail presence through flagship stores and experience centres.
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