Pernia's Pop-Up Shop Parent Purple Style Labs Sets IPO Price Band at ₹546 to ₹575
Purple Style Labs, the company behind luxury fashion platform Pernia's Pop-Up Shop, opens its INR 680 crore IPO on August 31. Here is the full snapshot, sourced from its Red Herring Prospectus.
Purple Style Labs Limited, the parent company of the multi-brand luxury fashion platform Pernia's Pop-Up Shop (PPUS), is raising up to INR 680 crore entirely through a fresh issue of equity shares, according to its Red Herring Prospectus (RHP) filed with SEBI. There is no offer for sale (OFS) component, so no existing shareholder is selling any part of their stake through this IPO. Every rupee raised goes to the company's own balance sheet, not to promoters or investors cashing out.
The price band has been fixed at INR 546 to INR 575 per equity share of face value INR 10 each, and the company is seeking a market capitalisation of up to INR 4,603.5 crore at the upper end of that band.
Price Band, Lot Size and Reservation
| Particulars | Details |
|---|---|
| Price band | INR 546 to INR 575 per share |
| Face value | INR 10 per share |
| Lot size | 26 shares |
| Minimum retail investment | INR 14,950 (at the cap price) |
| Maximum retail investment | INR 1,94,350 (13 lots) |
| QIB reservation | 75% |
| NII reservation | 15% |
| Retail reservation | 10% |
The retail quota of 10% is on the lower side compared with the 35% typically seen in mainboard IPOs, since Purple Style Labs has structured its reservation around the higher QIB and NII allocation permitted under SEBI's book-building norms for this category of issuer. Investors should factor this into how competitive the retail portion of the book is likely to be.
Key Dates
| Event | Date |
|---|---|
| Anchor investor bidding | Friday, August 28, 2026 |
| Bid/Issue opens | Monday, August 31, 2026 |
| Bid/Issue closes | Wednesday, September 2, 2026 |
| Basis of allotment (indicative) | Thursday, September 3, 2026 |
| Refunds/unblocking of funds (indicative) | Friday, September 4, 2026 |
| Credit of shares to demat accounts (indicative) | Friday, September 4, 2026 |
| Listing on exchanges (indicative) | Monday, September 7, 2026 |
As of this writing, the anchor round has not yet taken place, so there is no anchor investor allocation to report. That detail will be added once the anchor book closes on August 28, 2026.
Objects of the Issue
The RHP breaks down how the fresh issue proceeds will be used. INR 371.13 crore, the single largest allocation, is earmarked for the company's wholly owned subsidiary PSL Retail, to cover lease liabilities on the Experience Centres and back-end offices that PSL Retail operates across India.
| Object | Amount (INR crore) |
|---|---|
| Investment in PSL Retail for lease liabilities of Experience Centers and back-end offices | 371.13 |
| Sales and marketing expenses | 138.90 |
| General corporate purposes | To be finalised on determination of issue price (capped at 25% of gross proceeds) |
The general corporate purposes figure is not yet fixed in the RHP and will only be confirmed once the final issue price is determined and the prospectus is filed with the Registrar of Companies.
Lead Managers, Registrar and Listing
Axis Capital Limited and IIFL Capital Services Limited are the book-running lead managers to the issue, and KFin Technologies Limited is the registrar. The shares are proposed to be listed on both the BSE and the NSE, with NSE as the designated stock exchange, following in-principle approvals from both exchanges dated November 21, 2025.
Company Background
Purple Style Labs was incorporated in 2015 by Abhishek Agarwal, who serves as promoter, Whole-Time Director and CEO, and holds a 26.09% pre-issue stake according to the RHP's shareholding disclosure (based on the BENPOS dated August 21, 2026). The company operates Pernia's Pop-Up Shop, an omnichannel luxury fashion platform focused on Indian wedding and occasion wear, sourcing products from 1,109 Active Designer Brands as of March 31, 2026.
The company runs 14 Experience Centres globally: 12 in India across cities including Mumbai, Delhi, Bengaluru, Hyderabad and Chennai, plus one each in London and New York. It also operates the website and mobile app for perniaspopupshop.com, and served more than 200,000 unique customers between fiscal years 2024 and 2026, according to the RHP.
The company received SEBI's go-ahead for the IPO in January 2026 and filed its RHP on August 23, 2026, roughly a year after its original DRHP was filed in September 2025.
