Purple Style Labs Eyes ₹4,604 Cr Valuation in ₹680 Cr IPO

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 share for its upcoming ₹680 crore IPO. At the upper end of the band, the company would command a post-issue market capitalisation of nearly ₹4,604 crore, while the lower end would value it at around ₹4,406 crore.

The public issue will open for subscription on August 31 and close on September 2, with anchor investor bidding scheduled for August 28. Investors can bid for a minimum of 26 shares, translating to a minimum retail investment of ₹14,196 at the lower end and ₹14,950 at the upper end of the price band.

Unlike many startup IPOs that include exits for existing shareholders, Purple Style Labs’ ₹680 crore issue will consist entirely of fresh shares, with no offer-for-sale component. The company plans to use ₹371.1 crore of the proceeds towards lease liabilities linked to its network of experience centres, while another ₹138.9 crore has been earmarked for sales and marketing. The balance will be used for general corporate purposes.

Founded in 2015 by Abhishek Agarwal, Purple Style Labs operates across physical experience centres, ecommerce platforms, mobile applications, telephone sales and exhibitions. It acquired Pernia’s Pop-Up Shop in 2018 and has since built a portfolio spanning more than 1,100 designer brands, along with labels such as Wendell Rodricks and Hemant Trivedi. Its average order value stood at more than ₹75,500 in FY26.

The IPO will now test investor appetite for a luxury omnichannel fashion business seeking a sizeable public-market valuation even as it remains loss-making. For Purple Style Labs, the listing is a chance to fund its physical retail and marketing expansion while taking its luxury fashion platform into its next phase of scale.