Purple Style Labs Raises Rs 306 Crore before IPO

Purple Style Labs, the parent company of Pernia’s Pop-Up Shop, has successfully raised Rs 306 crore from anchor investors in advance of its initial public offering (IPO). The company distributed 53.21 lakh equity shares to 10 anchor investors at Rs 575 each, which is the upper range of its IPO price bracket. This group of investors consists of mutual funds, insurance companies, and international investment firms.

ICICI Prudential Mutual Fund stood out as the largest contributor, acquiring approximately 15.3 lakh shares valued at nearly Rs 88 crore. Following closely was Jupiter India Fund with an investment of Rs 75 crore, and Aditya Birla Sun Life Insurance, which purchased shares worth around Rs 68 crore. The anchor book also included involvement from ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies, Morgan Stanley Asia and BofA Securities Europe.

This round of anchor investment precedes Purple Style Labs’ Rs 680 crore IPO, which is set to commence on August 31 and conclude on September 2. The IPO is priced within a band of Rs 546-575 per share and consists entirely of a fresh issue.

Purple Style Labs has engaged Axis Capital and IIFL Capital Services as the book-running lead managers for this issue, while KFin Technologies has been appointed as the registrar.

The company operates within the luxury fashion sector through Pernia’s Pop-Up Shop, offering designer apparel and high-end fashion items. It has been actively broadening its reach both in India and in global markets.

On the financial side, Purple Style Labs reported an operational revenue of Rs 558 crore for FY26, an increase from Rs 490 crore in the preceding fiscal year. The losses reported were Rs 285 crore for the fiscal year ending in March 2026.