Purple Style Labs Raises ₹306 Crore From Anchor Investors Ahead of IPO
Purple Style Labs, the parent company of Pernia’s Pop Up Shop, has secured ₹306 crore (approximately $37 million) from anchor investors ahead of its initial public offering.
Purple Style Labs, the operator of the luxury fashion platform Pernia’s Pop Up Shop, has raised approximately ₹306 crore from anchor investors ahead of its public issue, scheduled to open on August 31.
The company announced the allocation of 53.2 lakh equity shares to ten anchor investors at ₹575 per share, the upper end of its IPO price band. Domestic mutual funds were significant participants, acquiring 17.39 lakh shares worth nearly ₹100 crore, constituting 32.68% of the total anchor allocation.
Notable anchor investors included BofA Securities, Morgan Stanley Asia, Aditya Birla Sun Life Insurance, and Jupiter India Fund. The IPO comprises a fresh issue of shares aiming to raise up to ₹680 crore, with no offer for sale component. The price band for the IPO has been set between ₹546 and ₹575 per equity share.
This valuation places the company at ₹4,604 crore at the upper end of the price spectrum. The IPO proceeds are intended to fund lease liabilities for Pernia’s Pop Up Stores' experience centers and support sales and marketing expenses through FY30.
Purple Style Labs reported a consolidated net loss of ₹285.4 crore for the fiscal year ending 2026, an increase from ₹188.4 crore in the previous year. Operating revenue for the same period rose by nearly 14% to ₹557.8 crore.