IPO · Commerce & Consumer Brands

Purple Style Labs raises ₹680 Cr in IPO

By Startup Enthusiast · 2 September 2026

What they do

Purple Style Labs sells luxury fashion brands like Pernia’s Pop-Up Shop through physical stores and online

The company raised ₹680 Cr via a fresh issue oversubscribed 1.29X, with anchor investors contributing ₹306 Cr

FY26 net loss widened to ₹285.4 Cr despite revenue growth of 14% to ₹557.8 Cr

Purple Style Labs completed its Initial Public Offering (IPO) raising ₹680 Cr from new shares.
The fresh issue was oversubscribed 1.29 times, indicating strong investor demand for the listing.
Retail investors subscribed at 1.57 times, while Qualified Institutional Buyers (QIBs) subscribed at 1.43 times.
Anchor investors including Morgan Stanley and BofA Securities participated in a ₹306 Cr portion of the raise.
Shares were allotted to anchors at ₹575 per share, totaling 53.2 Lakh shares.
The stock is scheduled to list on the NSE and BSE on September 7, 2026.
The price band for the IPO was set between ₹546 and ₹575 per share.
Subscription progress showed steady growth, reaching 8% on Day 1 and 24% on Day 2.

Investors are betting on the omnichannel model despite current profitability challenges.
Celebrity backing highlights the brand's market positioning and marketing strategy.

The company operates an omnichannel luxury fashion business model combining online and offline sales.
It manages popular brands such as Pernia’s Pop-Up Shop, Wendell Rodricks, and Hemant Trivedi.
Purple Style Labs runs 12 experience centres and 2 back-end offices within India.
The company has expanded internationally with centers located in London and New York.
Revenue grew 14% year-on-year to ₹557.8 Cr in FY26.
The firm plans to use ₹138.9 Cr for sales and marketing activities until FY30.
General corporate purposes will utilize the remaining balance of the IPO proceeds.

The company will list its shares on the NSE and BSE on September 7.
Plans include expanding experience centres using lease liability funds from the IPO.

Morgan Stanley (anchor) — Global financial services firm participating in anchor allotment.
BofA Securities (anchor) — Bank of America's investment banking arm participating in anchor allotment.
Harish Shah Family Office (existing) — Family office investor in the company.
Masaba Gupta (angel) — Fashion designer and celebrity investor.
Salman Khan (angel) — Bollywood actor and celebrity investor.
Shah Rukh Khan (Gauri Khan Family Trust) (angel) — Bollywood star's family trust invested in the company.
Shraddha Kapoor (angel) — Bollywood actress and celebrity investor.

Product: Curated marketplace and retail platform for luxury and designer fashion brands with omnichannel presence
Customers: Affluent consumers seeking premium and designer fashion through online and physical retail channels
How it makes money: Omnichannel marketplace combining D2C e-commerce, physical retail stores, and brand partnerships
What sets it apart: Portfolio of exclusive Indian designer brands including Pernia's Pop-Up Shop, Wendell Rodricks, Hemant Trivedi