Purple Style Labs IPO is a Mainboard public issue of Purple Style Labs Limited, the company behind Pernia’s Pop-Up Shop, a multi-brand luxury fashion platform serving customers through online and physical channels in India and international markets.
The IPO was open for subscription from 31 August 2026 to 2 September 2026. The price band was fixed at ₹546 to ₹575 per equity share, with a face value of ₹10 per share. The issue size was ₹680 crore and comprised entirely of a fresh issue of 1,18,26,087 equity shares. There was no Offer for Sale component.
The company operates an omnichannel luxury-fashion platform offering womenswear, menswear, jewellery, accessories and kidswear, with a strong focus on wedding and occasion wear. As of 31 March 2026, the platform offered products from 1,109 active designer brands.
The IPO received total subscription of approximately 1.29 times. QIBs subscribed 1.43 times, NIIs 0.84 times and retail investors 1.57 times. The shares are scheduled to list on BSE and NSE on 7 September 2026.
Table of Contents
Purple Style Labs IPO Details Information
| Particulars | Details |
|---|---|
| IPO Name | Purple Style Labs IPO |
| Company Name | Purple Style Labs Limited |
| IPO Type | Mainboard IPO |
| Issue Type | Book Built Issue |
| IPO Category | Mainboard |
| Face Value | ₹10 per Equity Share |
| Price Band | ₹546 – ₹575 per Equity Share |
| Issue Size | ₹680 Crore |
| Total Shares Offered | 1,18,26,087 Equity Shares |
| Fresh Issue | 1,18,26,087 Equity Shares |
| Offer for Sale | Nil |
| Issue Structure | 100% Fresh Issue |
| IPO Opening Date | 31 August 2026 |
| IPO Closing Date | 2 September 2026 |
| Listing Exchange | BSE and NSE |
| Listing Date | September 7, 2026 |
| Lot Size | 26 Shares |
| Minimum Application | 1 Lot / 26 Shares |
| Minimum Investment | ₹14,950 |
| Registrar | KFin Technologies Limited |
| Lead Managers | Axis Capital Limited and IIFL Capital Services Limited |
| Company Website | Purple Style Labs Official Website |
Purple Style Labs raised ₹680 crore through a fresh issue. The company did not have an OFS component, meaning the IPO proceeds are intended to be used by the company for the stated objects of the issue.
IPO Dates & Timeline
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 28 August 2026 |
| IPO Opening Date | 31 August 2026 |
| IPO Closing Date | 2 September 2026 |
| Basis of Allotment | 3 September 2026 |
| Initiation of Refunds | 4 September 2026 |
| Credit of Shares to Demat Account | 4 September 2026 |
| IPO Listing Date | 7 September 2026 |
Purple Style Labs completed its IPO bidding period on 2 September 2026. The basis of allotment was finalized on 3 September, followed by refund and share-credit activities on 4 September. The shares are scheduled to list on 7 September 2026.
IPO Reservation
| Investor Category | Shares Offered | Reservation |
|---|---|---|
| Anchor Investors | 53,21,739 | 45% |
| QIB – Ex Anchor | 35,47,826 | 30% |
| Non-Institutional Investors | 17,73,913 | 15% |
| Retail Individual Investors | 11,82,609 | 10% |
| Total | 1,18,26,087 | 100% |
The company allotted 53,21,739 shares to anchor investors at ₹575 per share, raising approximately ₹306 crore before the public issue. The remaining shares were allocated among QIBs, NIIs and retail investors according to the issue structure.
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 26 | ₹14,950 |
| Retail Maximum | 13 | 338 | ₹1,94,350 |
| S-HNI Minimum | 14 | 364 | ₹2,09,300 |
| S-HNI Maximum | 66 | 1,716 | ₹9,86,700 |
| B-HNI Minimum | 67 | 1,742 | ₹10,01,650 |
The minimum retail application was one lot consisting of 26 shares. At the upper price band of ₹575, the minimum investment was ₹14,950.
About Purple Style Labs Limited
Purple Style Labs Limited was incorporated as Purple Style Labs Private Limited on 6 August 2015 in Mumbai. The company was subsequently converted into a public limited company, with the name changed to Purple Style Labs Limited in December 2023.
The company operates Pernia’s Pop-Up Shop, a luxury multi-brand fashion platform. The platform offers curated products from designer brands across categories such as womenswear, menswear, jewellery, accessories and kidswear.
The business uses an omnichannel model that combines physical experience centres with digital channels, including its website, mobile application, telephonic sales and other digital sales channels. As of 31 March 2026, the platform had 1,109 active designer brands.
Business Operations
- Operates Pernia’s Pop-Up Shop as a multi-brand luxury fashion platform.
- Offers designer womenswear and menswear.
- Provides jewellery and fashion accessories.
- Offers kidswear and other lifestyle products.
- Focuses on wedding and occasion wear.
- Operates online and physical retail channels.
- Uses experience centres to provide customers with an in-person shopping experience.
- Provides digital and telephonic shopping services.
- Works with more than 1,000 active designer brands.
- Serves customers in India and international markets.
- Uses an omnichannel model combining physical and digital retail.
As of March 2026, Purple Style Labs operated 14 experience centres globally, including 12 in India and locations in London and New York. During FY2024-FY2026, the company served more than two lakh unique customers. In FY2026, Pernia’s Pop-Up Shop recorded total GMV of approximately ₹722 crore.
Industry Overview
The Indian luxury fashion and premium lifestyle market is supported by rising disposable incomes, increasing brand awareness, premiumisation and changing consumer preferences.
Luxury fashion is also becoming increasingly accessible through digital channels. Consumers can discover designers, compare products and place orders online, while experience centres provide physical interaction with products and brands.
The wedding and occasion-wear segment is particularly important for Indian luxury fashion because of the country’s large wedding market and cultural preference for designer apparel and jewellery.
Purple Style Labs operates in this expanding market through a combination of online commerce, physical experience centres and designer-brand partnerships.
However, the luxury-fashion sector is competitive and discretionary. Consumer spending can be affected by economic conditions, disposable income, fashion trends and changes in discretionary spending patterns.
Business Strategy
Omnichannel Expansion
The company combines physical experience centres with online and digital channels to provide customers with multiple ways to discover and purchase luxury products.
Experience Centre Network
Purple Style Labs has expanded its physical experience-centre network to strengthen customer engagement and provide an offline shopping experience for premium customers.
Designer Brand Expansion
The company works with a large network of designer brands. Its platform had 1,109 active designer brands as of 31 March 2026, providing customers with a broad selection of luxury fashion products.
Higher-Value Products
The company has strategically reduced its focus on lower-value products while increasing its focus on higher-value products and categories such as menswear. This strategy is intended to improve average order value and customer economics.
International Presence
The company has developed an international presence through experience centres and customer sales in markets outside India, including London and New York.
Customer Retention
Repeat customers are an important part of the business model. The company has reported that approximately 30% of revenue is generated from repeat customers.
Financial Information
| Financial Year | Revenue from Operations (₹ Cr) | Total Income (₹ Cr) | EBITDA (₹ Cr) | PAT (₹ Cr) | Total Assets (₹ Cr) | Borrowings (₹ Cr) |
|---|---|---|---|---|---|---|
| FY2024 | 504.37 | 510.03 | 31.63 | -47.71 | 458.39 | 116.33 |
| FY2025 | 489.91 | 494.00 | 41.99 | -188.38 | 497.05 | 112.79 |
| FY2026 | 557.84 | 567.07 | 30.37 | -285.40 | 829.60 | 371.40 |
The financial figures show that revenue from operations increased to ₹557.84 crore in FY2026 from ₹489.91 crore in FY2025. However, the company continued to report significant losses, with the FY2026 loss after tax increasing to ₹285.40 crore.
Financial Summary
Purple Style Labs recorded revenue from operations of ₹504.37 crore in FY2024. Revenue declined slightly to ₹489.91 crore in FY2025 before increasing to ₹557.84 crore in FY2026.
Despite the recovery in revenue, profitability remained weak. The company’s loss after tax increased from ₹47.71 crore in FY2024 to ₹188.38 crore in FY2025 and further to ₹285.40 crore in FY2026.
EBITDA was ₹31.63 crore in FY2024 and increased to ₹41.99 crore in FY2025 before declining to ₹30.37 crore in FY2026. EBITDA margin therefore fell to approximately 5.44% in FY2026.
Borrowings also increased sharply to approximately ₹371.40 crore in FY2026 from ₹112.79 crore in FY2025, while total assets increased to ₹829.60 crore.
Key Performance Indicators (KPIs)
| KPI | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹504.37 Cr | ₹489.91 Cr | ₹557.84 Cr |
| Total Income | ₹510.03 Cr | ₹494.00 Cr | ₹567.07 Cr |
| EBITDA | ₹31.63 Cr | ₹41.99 Cr | ₹30.37 Cr |
| PAT | -₹47.71 Cr | -₹188.38 Cr | -₹285.40 Cr |
| EBITDA Margin | 6.27% | 8.57% | 5.44% |
| PAT Margin | Negative | Negative | Negative |
| Net Worth | ₹39.51 Cr | ₹117.50 Cr | -₹52.28 Cr |
| Borrowings | ₹116.33 Cr | ₹112.79 Cr | ₹371.40 Cr |
| NAV | Positive | Positive | -₹7.69 |
| EPS | Negative | Negative | -₹41.98 |
The FY2026 figures demonstrate the company’s key financial challenge: revenue has grown, but losses have widened substantially. The negative FY2026 net worth also means conventional valuation measures such as P/E are not meaningful on an earnings basis.
Objects of the IPO
The company proposed to utilize the IPO proceeds for the following purposes:
| Object of Issue | Amount |
|---|---|
| Investment in wholly owned subsidiary PSL Retail for lease liabilities of experience centres and back-end offices | ₹371.13 Crore* |
| Sales and marketing expenses | ₹128.00 Crore |
| General Corporate Purposes | Balance amount |
| Total Fresh Issue | ₹680.00 Crore |
*The final allocation should be referred to in the RHP/prospectus for the precise amount after issue-related adjustments.
The largest portion of the IPO proceeds is intended to support PSL Retail, the company’s wholly owned subsidiary, particularly for lease liabilities associated with experience centres and back-end offices. Another significant portion is intended for sales and marketing expenses.
Listing Performance
| Particulars | Details |
|---|---|
| IPO Issue Price | ₹575 |
| Expected Listing Date | 7 September 2026 |
| Proposed Exchanges | BSE and NSE |
| Listing Price | To be updated |
| Listing Gain/Loss | To be updated |
Purple Style Labs shares have not yet commenced trading as of 5 September 2026. The scheduled listing date is 7 September 2026. Therefore, the actual listing price and listing-day gain or loss will be updated after trading begins.
Purple Style Labs IPO GMP
GMP Today
The latest available grey-market tracking data indicates a GMP of approximately ₹1 per share on 4 September 2026. Another tracking source reported around ₹2 on the same date. These figures should be treated only as unofficial market indications.
At a ₹575 upper price band, a ₹1–₹2 GMP would indicate an unofficial implied price of approximately ₹576–₹577. This does not guarantee the actual listing price.
GMP is not regulated by SEBI or the stock exchanges and can change rapidly. Investors should therefore consider the company’s financial performance, valuation, subscription data and business risks rather than relying on GMP alone.
Subscription Status
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers | 1.43x |
| Non-Institutional Investors | 0.84x |
| Retail Individual Investors | 1.57x |
| Total | 1.29x |
Purple Style Labs IPO was subscribed approximately 1.29 times overall. Retail investors recorded the strongest subscription among the reported categories at 1.57 times, followed by QIBs at 1.43 times, while the NII portion was subscribed 0.84 times.
Purple Style Labs IPO Review
Purple Style Labs has built a recognizable position in India’s luxury fashion market through Pernia’s Pop-Up Shop. The company operates an omnichannel model that combines physical experience centres with digital channels, providing customers with access to a large selection of designer products.
One of the company’s major strengths is its designer network. The platform had 1,109 active designer brands as of March 2026. The company also served more than two lakh unique customers during FY2024-FY2026, demonstrating a sizeable customer base.
The company’s revenue also recovered in FY2026. Revenue from operations increased 13.87% to ₹557.84 crore from ₹489.91 crore in FY2025. However, the improvement in revenue did not translate into profitability. The net loss widened to ₹285.40 crore in FY2026.
The decline in EBITDA from ₹41.99 crore in FY2025 to ₹30.37 crore in FY2026 is another concern. The resulting EBITDA margin of approximately 5.44% indicates limited operating profitability.
Borrowings also increased sharply to ₹371.40 crore in FY2026, while the company reported negative net worth of ₹52.28 crore. This makes the company’s financial position an important risk factor for investors.
The IPO proceeds are intended to support lease liabilities, sales and marketing and other corporate requirements. Successful deployment of these funds could support expansion, but investors should monitor whether increased scale eventually results in sustainable profitability.
Overall, Purple Style Labs offers exposure to India’s luxury-fashion and premium retail market and has a strong designer ecosystem and recognizable brand. However, its widening losses, negative net worth, high borrowings and relatively low EBITDA margin make the IPO suitable mainly for investors who understand the higher risks associated with a loss-making growth business.
IPO Strengths
- Established luxury fashion platform through Pernia’s Pop-Up Shop.
- Large network of 1,109 active designer brands.
- Omnichannel business model combining online and physical retail.
- Presence in both Indian and international markets.
- 14 experience centres globally as of March 2026.
- More than two lakh unique customers served during FY2024-FY2026.
- FY2026 revenue from operations grew to ₹557.84 crore.
- Strong presence in wedding and occasion-wear categories.
- Exposure to India’s growing premium and luxury-fashion market.
- Repeat customers contribute meaningfully to revenue.
- Large product assortment across womenswear, menswear, jewellery, accessories and kidswear.
- ₹680 crore IPO provides capital for business expansion and operating requirements.
- No OFS component, with the issue consisting entirely of fresh shares.
- Strong brand recognition in India’s designer-fashion ecosystem.
These strengths are supported by the company’s business profile and reported operating metrics.
IPO Risk Factors
- The company has reported substantial net losses.
- FY2026 loss after tax increased to ₹285.40 crore.
- Net worth became negative at approximately ₹52.28 crore.
- Borrowings increased sharply to ₹371.40 crore.
- EBITDA declined in FY2026.
- EBITDA margin reduced to approximately 5.44%.
- Luxury fashion is a discretionary spending category.
- Consumer demand can be affected by economic conditions.
- High dependence on successful execution of the omnichannel model.
- Experience centres involve substantial lease-related expenses.
- Expansion can increase fixed operating costs.
- Competition in luxury fashion and premium retail remains significant.
- International operations expose the company to overseas-market risks.
- Changes in fashion trends can quickly affect product demand.
- Designer-brand relationships need to be maintained and expanded.
- The company may require additional capital if losses continue.
- Negative net worth makes conventional earnings-based valuation difficult.
- The company may face challenges in achieving sustainable profitability.
- IPO GMP is unofficial and should not be considered a reliable indicator of listing performance.
The company’s widening losses, increasing borrowings and negative net worth are among the most important financial considerations for investors.
IPO Promoters
The promoter of Purple Style Labs Limited is Abhishek Agarwal.
| Promoter | Pre-Issue Holding | Post-Issue Holding |
|---|---|---|
| Abhishek Agarwal | 28.26% | Approx. 24.08% |
| Promoter & Promoter Group | 28.26% | Approx. 24.08% |
The promoter and promoter-group holding was approximately 28.26% before the issue and is expected to reduce after the fresh issue.
Management Team
Key Management
| Name | Designation |
|---|---|
| Hrishikesh Bhalchandra Parandekar | Chairperson / Independent Director |
| Abhishek Agarwal | Whole-Time Director / Promoter |
| Abhinav Agarwal | Whole-Time Director |
| Shefali Saroh Shyam | Independent Director |
| Gulshan Mumtaz Khan | Company Secretary & Compliance Officer |
The company is led by a management team with experience across fashion, retail, finance and corporate operations. Gulshan Mumtaz Khan serves as Company Secretary and Compliance Officer.
Registrar Details
| Particulars | Details |
|---|---|
| Registrar | KFin Technologies Limited |
| Contact Person | M Murali Krishna |
| Phone | +91 40 6716 2222 |
| [email protected] | |
| Website | KFin Technologies |
| IPO Status | KFin IPO Status Portal |
KFin Technologies Limited is the registrar to the Purple Style Labs IPO. The RHP identifies M Murali Krishna as the contact person and provides the IPO-specific email and telephone details.
Lead Manager Details
| Particulars | Details |
|---|---|
| Lead Manager 1 | Axis Capital Limited |
| Lead Manager 2 | IIFL Capital Services Limited |
| Axis Capital Contact | Mayuri Arya / Jigar Jain |
| Axis Capital Phone | +91 22 4325 2183 |
| IIFL Capital Contact | Yogesh Malpani / Pawan Kumar Jain |
| IIFL Capital Phone | +91 22 4646 4728 |
| Axis Capital Website | Axis Capital |
| IIFL Capital Website | IIFL Capital Services |
Axis Capital Limited and IIFL Capital Services Limited are the book-running lead managers to the issue.
Company Contact Details
| Particulars | Details |
|---|---|
| Company | Purple Style Labs Limited |
| Registered & Corporate Office | CTS No. 1081, Plot No. 110, TPS Village, Service Road, Western Express Highway, Vile Parle East, Mumbai – 400057, Maharashtra |
| Phone | +91 22 5033 3600 |
| [email protected] | |
| Website | Purple Style Labs Official Website |
| CIN | U18204MH2015PLC267215 |
| Contact Person | Gulshan Mumtaz Khan |
The registered and corporate office details are disclosed in the company’s IPO documentation.
How to Check Purple Style Labs IPO Allotment Status
Check Through KFin Technologies
- Visit the KFin IPO Status Portal.
- Select Purple Style Labs Limited from the available IPO list.
- Enter your PAN or application number.
- Enter the required verification details.
- Submit the information.
- Your allotment status will be displayed on the screen.
The basis of allotment was scheduled for 3 September 2026, with shares credited to successful applicants on 4 September 2026.
Check Through BSE/NSE
Investors can also check IPO-related bid and allotment information through the relevant stock-exchange facilities after the registrar and exchange update the records.
Purple Style Labs IPO Conclusion
Purple Style Labs IPO provides exposure to India’s growing luxury-fashion and premium retail market through its flagship Pernia’s Pop-Up Shop platform.
The company has several attractive operating characteristics, including a large network of 1,109 active designer brands, an omnichannel business model, international presence and 14 experience centres globally. Its revenue from operations increased to ₹557.84 crore in FY2026, reflecting recovery from the previous year’s ₹489.91 crore.
However, the company’s financial performance remains the major concern. The FY2026 net loss widened to ₹285.40 crore, EBITDA declined to ₹30.37 crore and borrowings increased to ₹371.40 crore. Net worth also became negative at approximately ₹52.28 crore.
The IPO proceeds are intended to support lease liabilities, sales and marketing and general corporate purposes. The success of the issue will therefore depend considerably on whether the company can use additional capital to expand its business while improving margins and moving towards sustainable profitability.
Purple Style Labs IPO was subscribed 1.29 times overall, with retail investors at 1.57 times, QIBs at 1.43 times and NIIs at 0.84 times. The shares are scheduled to list on BSE and NSE on 7 September 2026.
The IPO may appeal to investors seeking exposure to luxury fashion and willing to accept higher financial risk. However, investors should carefully evaluate the company’s losses, borrowings, negative net worth, operating margins and future path to profitability before making an investment decision.
IPO FAQs
What is Purple Style Labs IPO?
Purple Style Labs IPO is a Mainboard public issue of Purple Style Labs Limited. The company operates Pernia’s Pop-Up Shop, a multi-brand luxury fashion platform. The IPO raised ₹680 crore through a fresh issue of shares.
What is the Purple Style Labs IPO Price?
The final Purple Style Labs IPO Price Band has not been confirmed in the latest publicly available information reviewed.
When did Purple Style Labs IPO open?
Purple Style Labs IPO opened for subscription on 31 August 2026 and closed on 2 September 2026.
What is the Purple Style Labs IPO price band?
The price band was fixed at ₹546 to ₹575 per equity share.
What is the Purple Style Labs IPO lot size?
The lot size is 26 shares. At the upper price of ₹575, one lot requires an investment of ₹14,950.
What is the Purple Style Labs IPO issue size?
The IPO issue size is ₹680 crore and consists entirely of a fresh issue of 1,18,26,087 equity shares.
What is the Purple Style Labs IPO GMP today?
The latest available grey-market indications around 4 September 2026 were approximately ₹1–₹2 per share. GMP is unofficial and can change before listing.
What was the Purple Style Labs IPO subscription status?
The IPO was subscribed approximately 1.29 times overall. QIBs subscribed 1.43 times, NIIs 0.84 times and retail investors 1.57 times.
When was Purple Style Labs IPO allotment?
The basis of allotment was scheduled for 3 September 2026, followed by refund and share-credit activities on 4 September 2026.
When will Purple Style Labs shares list?
Purple Style Labs shares are scheduled to list on BSE and NSE on 7 September 2026.
Who is the registrar of Purple Style Labs IPO?
KFin Technologies Limited is the registrar of Purple Style Labs IPO.
Who are the lead managers of Purple Style Labs IPO?
Axis Capital Limited and IIFL Capital Services Limited are the book-running lead managers to the issue.
What does Purple Style Labs Limited do?
Purple Style Labs operates Pernia’s Pop-Up Shop, a multi-brand luxury fashion platform offering womenswear, menswear, jewellery, accessories and kidswear through online and physical channels.
Who is the promoter of Purple Style Labs?
Abhishek Agarwal is the promoter of Purple Style Labs Limited.
Is Purple Style Labs IPO a Mainboard or SME IPO?
Purple Style Labs IPO is a Mainboard IPO and its shares are scheduled to list on both BSE and NSE.
