Purple Style Labs is a luxury fashion brand located in India. Purple Style Labs is the parent company of Pernia’s Pop-Up Shop. The launch of the IPO of Purple Style Labs for retail investors is scheduled for August 31 with a ₹680 crore per share offering.

The company’s official filing documents state that the initial public offering will end its subscription window on September 2, while the bidding process for anchor investors is set to close on August 28. The overall market offering consists of a fresh issue of shares and not an offer to sale, as there is no such offer in the proposed order.

Upcoming issue offer structure and primary investment

The company has raised the total size of the public issue by ₹20 crore from the ₹660 crore fresh issue proposed at the time of filing the draft offer documents with SEBI in September 2025. On 23 January 2026, SEBI provided its formal observations on the draft papers. 

This was a landmark step that allowed the fashion company to proceed with the offering. According to the red herring prospectus issued today, the company will select the price band and the minimum number of lots or denominations it is prepared to accept in a formal consultation with its appointed book-running lead managers. 

This essential information will be made public at least 2 working days before the issue is opened for subscription. Consequently, the prospective date for the completion of the basis of allotment is expected to be on or around September 3 of this year, on the basis of the presented indicative timeline in the prospectus. 

Following the allotment process, trading of the company’s equity shares on BSE and NSE is scheduled to begin from or after September 07. Purple Style Labs has explained in clear terms the deployment of the net proceeds of the IPO for future operations. 

The startup plans to channel ₹371.13 crore net proceeds into its standalone entity, PSL Retail. This initial investment will be dedicated to lease obligations for the development and maintenance of its experience centres and back-end offices located across India. 

The company is allocating ₹138.90 crore for a significant period of sales and marketing expenses for the financial years ending March 2027 through March 2030. The remaining portion of the proceeds from the net sale will be credited to general corporate purposes to support current business needs.

Business growth and financial performance

Abhishek Agarwal founded and promoted Purple Style Labs. One major milestone in the company’s corporate evolution was an agreement closed in February 2018, by which the company acquired the total business of Pernia’s Pop-Up Shop. 

This purchase involved the acquisition of its official website, its mobile application interface, its intellectual property rights, and its brand goodwill and physical property. It is powered by a comprehensive omnichannel retail approach, with a streamlined online platform that seamlessly complements experience centres. 

The enterprise maintains 14 experience centres around the world, 12 of which are located in India, 1 in the UK, and 1 in New York, which opened on February 2, 2026. By working directly with fashion icons, the luxury platform has claimed an impressive inventory of luxury products. 

As of March 31, 2026, the company was actively sourcing from 1,109 active designer brands, including prestigious designer names like Seema Gujral, Anushree Reddy, Amit Aggarwal and Rohit Gandhi & Rahul Khanna. 

The brand’s retail range includes womenswear, menswear, fine jewellery, accessories and niche kidswear, and is broadly dominated by wedding and occasion products. As per corporate ownership, promoter Abhishek Agarwal has 26.09% equity share holding of Purple Style Labs on a fully diluted basis as of the date of the prospectus. 

Among other institutional investors, Volrado Venture Partners Fund II holds a stake of 2.79%, Abhinav Agarwal owns 2.17%, Singularity Growth Opportunities Fund I owns 1.86%, and investor Mukul Mahavir Agrawal holds 1.37%. Purple Style Labs is a loss-maker, though it posted a significant performance improvement in the latest financial year in terms of topline revenue. 

The company recorded ₹285.4 crore net loss in FY26. The company recorded ₹188.4 crore net loss in FY25. It recorded ₹47.7 crore net loss in FY24. It recorded a 13.9% rise in overall revenue from operations to ₹557.8 crore in FY26. Previous year, the company’s overall revenue from operations declined 2.9% to ₹489.9 crore.

As of March 31, 2026, the startup’s financial statements show a total of ₹371.4 crore in borrowings and negative equity of ₹52.3 crore. Axis Capital and IIFL Capital Services have been appointed the book-running lead managers for the public offer, and KFin Technologies has been designated as the official registrar to the issue for the same purpose.

Conclusion

Purple Style Labs’ upcoming public listing worth ₹680 crore would signal a crucial strategy to consolidate its foothold in the luxury retail segment. The omnichannel platform will invest significant amounts of capital into leasing experience centres and long-term marketing campaigns to grow its network of 1,109 active designer brands and add more storefronts globally.

The company sold a total equity issue to raise additional primary capital for corporate growth while continuing to experience financial losses and negative total equity. Subscribers will watch as market players assess the startup’s growth graph and retail presence in relation to its financial numbers as the subscription window opens from August 31, ahead of its stock exchange listing on the BSE and NSE.