Pernia's Pop-Up Shop Parent Sets IPO Price Band At ₹546-₹575

Purple Style Labs, the parent company of luxury fashion platform Pernia's Pop-Up Shop, has set a price band of ₹546 to ₹575 per equity share for its upcoming ₹680 crore initial public offering (IPO). The IPO is scheduled to open for subscription on August 31 and close on September 2.

The company is seeking a valuation of approximately ₹4,406 crore to ₹4,604 crore (about $463-$483 million) post-issue. The offering is entirely a fresh issue of shares, with no component of sale by existing shareholders.

Proceeds from the IPO will be primarily used to fund lease liabilities for the company's network of experience centers, amounting to ₹371.1 crore. An additional ₹138.9 crore will be allocated to sales and marketing expenses, with the remainder for general corporate purposes.

Founded in 2015 by Abhishek Agarwal, Purple Style Labs operates an omnichannel fashion platform. Its portfolio includes Pernia’s Pop-Up Shop and designer labels such as Wendell Rodricks and Hemant Trivedi. The company acquired Pernia’s Pop-Up Shop in 2018.