IPO-Bound Purple Style Labs Nets ₹306 Cr From Anchor Investors
Ahead of the commencement of the bidding for its public issue on August 31, Pernia’s Pop Up Shop parent Purple…
Purple Style Labs, the parent company of Pernia's Pop Up Shop, has raised nearly ₹306 crore from anchor investors ahead of its public issue. The company allotted 53.2 lakh equity shares to ten anchor investors at ₹575 each, which is the upper limit of its IPO price band. Domestic mutual funds, including BofA Securities, Morgan Stanley Asia, Aditya Birla Sun Life Insurance, and others, participated in the anchor round, accounting for 32.68% of the total allocation.
The IPO, which will open for subscription on August 31 and close on September 2, consists solely of a fresh issue of shares worth up to ₹680 crore. The company plans to use the proceeds to fund lease liabilities for its experience centres and sales and marketing expenses. Founded in 2015, Purple Style Labs operates the luxury omnichannel fashion platform Pernia's Pop Up Shop, selling apparel sourced from 1,109 designer brands through its website and 12 experience centres.
Despite a 51.5% increase in consolidated net loss to ₹285.4 crore in FY26, the company's operating revenue rose by 14% to ₹557.8 crore from ₹489.9 crore in FY25.
Written by urgent.news from Inc42's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Purple Style Labs collects ₹306 crore from anchor investors; IPO to open on Aug 31 thehindubusinessline.com
