Purple Style Labs raises Rs 306 Cr from anchor investors ahead of IPO

"Purple Style Labs, the parent company of Pernia"s Pop-Up Shop, has raised Rs 306 crore from anchor investors ahead of its initial public offering (IPO). The company allotted 53.21 lakh equity shares to 10 anchor investors at Rs 575 each, the upper end of its IPO price band. The investors include mutual funds, insurance companies and global investment firms.

ICICI Prudential Mutual Fund emerged as the largest investor, picking up around 15.3 lakh shares worth nearly Rs 88 crore. Jupiter India Fund followed with Rs 75 crore, while Aditya Birla Sun Life Insurance acquired shares worth nearly Rs 68 crore. The anchor book also saw participation from ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies, Morgan Stanley Asia and BofA Securities Europe.

The anchor round comes ahead of Purple Style Labs" Rs 680 crore IPO, which will open for subscription on August 31 and close on September 2. The IPO has a price band of Rs 546-575 per share and comprises entirely of a fresh issue. The company has also appointed Axis Capital and IIFL Capital Services as the book-running lead managers to the issue, while KFin Technologies is the registrar.

Purple Style Labs operates in the luxury fashion segment through Pernia"s Pop-Up Shop, which sells designer wear and luxury fashion products. The company has been expanding its presence across India and international markets. On the financial front, Purple Style Labs reported revenue from operations of Rs 558 crore in FY26, compared with Rs 490 crore in the previous fiscal.

Its losses stood at Rs 285 crore during the fiscal year ended March 2026."

Source: entrackr.com