Q1. What is the business of Purple Style Labs Limited?

It is is an omnichannel luxury fashion house retailing premium Indian designer brands through Pernia’s Pop-Up Shop.

Q2. Why is the company raising funds via IPO?

Purple Style Labs is raising funds to settle lease liabilities, fund global marketing, and support general corporate growth initiatives.

Q3. What is the size of the issue and where will it list?

The issue size of IPO is ₹660 crore entirely as Fresh Issue and no OFS. It will be listed on BSE and NSE platform.

Q4. What are the risks to an investor?

Investors face risks from widening financial losses, high ESOP costs, geopolitical volatility, and heavy dependence on top designers.

Q5. What are the potential upsides?

Potential upsides include a dominant market position, surging average order values, robust international expansion, and improving EBITDA margins.

Q6. How to apply for the IPO?

Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers.

Purple Style Labs Limited

Closed

Purple Style Labs Limited

Market Cap

₹ 4,640 Crore

IPO Issue Size

~ 680 Cr

Expected Price by IPOCorner

₹ 546 to ₹ 575

IPO Score

*Score varies on actual price

Purple Style Labs Limited (PSL) is an Indian luxury fashion house dedicated to scaling domestic designer brands for a global audience. The Mumbai-based company operates an omnichannel model, bridging the gap between high-end designers and international consumers. Its flagship platform, Pernia’s Pop-Up Shop, was acquired in 2018 and has since become one of India’s largest multi-brand luxury retailers, featuring over 1,000 designers like Tarun Tahiliani and Amit Aggarwal. PSL also owns the eponymous label of the late Wendell Rodricks.

With “Experience Centers” in major Indian cities and London, the company is backed by prominent investors, including Binny Bansal and Madhuri Dixit. As of 2026, PSL continues its aggressive expansion, targeting global fashion capitals like New York and Dubai.

Purple Style Labs Limited was officially incorporated in 2015, The Managing Director of Purple Style Labs Limited is Mr. Abhishek Agarwal.

Issue size of the IPO is ₹ 680 Crores consisting entirely as a Fresh Issue of ₹ 680 Crores. Subscription date to apply for Purple Style Labs Limited starts on 31st Aug’26 & Closes on 02nd Sep, Price band for the IPO is ₹ 546 to ₹ 575 with a lot size of 26 Shares.

Purple Style Labs Limited (PSL) is a premier Indian luxury fashion house that bridges the gap between high-end designers and a global audience through an integrated omnichannel model. Its core offering is Pernia’s Pop-Up Shop, a multi-designer platform featuring over 1,300 designers, including legends like Manish Malhotra and Tarun Tahiliani. Beyond retail, PSL follows a “roll-up” strategy, acquiring and scaling legacy brands like Wendell Rodricks and Hemant Trevedi. The company provides a luxury ecosystem through its digital platform and physical “Experience Centers” in cities like Mumbai, Delhi, and London. Complemented by personalized styling services and a dedicated kidswear vertical, PSL focuses on delivering a seamless, high-touch shopping experience for premium ethnic and contemporary fashion worldwide.

Year	2025
Networth	₹ 118.69 Cr
Revenue	₹ 489.91 Cr
EBITDA	₹ 41.98 Cr
PAT	₹ -188.55 Cr
EBITDA Margin	~8.57%
PAT Margin	~-38.49%
Face Value	Rs.10 per Equity Share

IPO Important Dates

#	Date
Open Date	31-Aug'26
Close Date	02-Sep'26
Anchor Investor Bidding	28-Aug'26
Allotment Date	03-Sep'26
Refunds& Demat Credit	04-Sep'26
Tentative Listing Date	07-Sep'26

Use Of Proceeds

Purpose	Amount
Investment In Fully Owned Subsidiary	~ ₹ 363.29 Cr
Sales and Market Expenses	~ ₹ 128 Cr
-	-
-	-
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	369.19	504.37	489.91
PAT (₹ Cr)	-41.38	-47.71	-188.55
Asset (₹ Cr)	329.7	459.75	498.25
Net Worth (₹ Cr)	59.28	40.87	118.69

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
03-Sep	₹ 546 - ₹ 575	₹ -	₹ -
02-Sep	₹ 546 - ₹ 575	₹ 08	₹ 208
01-Sep	₹ 546 - ₹ 575	₹ 12	₹ 312
31-Aug	₹ 546 - ₹ 575	₹ 28	₹ 728
30-Aug	₹ 546 - ₹ 575	₹ 22	₹ 616

Pros

Extensive Designer Catalog: Offers a vast collection featuring over 1,300 top-tier and emerging Indian designer brands.
Strong Omnichannel Presence: Seamlessly integrates high-end digital shopping with physical luxury Experience Centers in global hubs.
Global Market Leadership: Dominates the international Indian diaspora market, shipping luxury fashion to over 140 countries.
Curation and Exclusivity: Provides expertly curated, high-quality ethnic wear and bespoke styling services for special occasions.
Scalable Business Model: Successfully acquires and revitalizes legacy heritage brands, expanding its influence across fashion categories.

Cons

Persistent Financial Losses: The company continues to report significant net losses despite rising revenues and order values.
Strict Return Policies: Customers often criticize the rigid 24-hour return window and difficult refund processing systems.
High Operational Costs: Maintaining massive physical boutiques and international logistics requires constant, heavy external capital funding.
Inconsistent Customer Service: Some users report poor communication and delays when resolving order issues or customizations.
Geopolitical Risk Exposure: Heavy reliance on international sales leaves the business vulnerable to fluctuating duties and regulations.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Abhishek Agarwal	~27.10%
Payal Kumari Agarwal	~0.23%
Priyanka Agarwal	~0.03%
-	-
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	26 Shares	1	26 Shares	₹ 14,950
Retail (Max)	26 Shares	13	338 Shares	₹ 1,94,350
HNI (Min)	26 Shares	14	364 Shares	₹ 2,09,300
HNI (Max)	26 Shares	66	1,716 Shares	₹ 9,86,700
Big HNI (Min)	26 Shares	67	1,742 Shares	₹ 10,01,650

Key Performance Index (KPI)

ROE	-160.3%
ROCE	-4.75%
RoNW	-160.3%

Lead / Book Running Lead Managers

Axis Capital Limited, IIFL Capital Services Limited

Registrar (RTA)

KFin Technologies Limited

Q1. What is the business of Purple Style Labs Limited?
It is is an omnichannel luxury fashion house retailing premium Indian designer brands through Pernia’s Pop-Up Shop.
Q2. Why is the company raising funds via IPO?
Purple Style Labs is raising funds to settle lease liabilities, fund global marketing, and support general corporate growth initiatives.
Q3. What is the size of the issue and where will it list?
The issue size of IPO is ₹660 crore entirely as Fresh Issue and no OFS. It will be listed on BSE and NSE platform.
Q4. What are the risks to an investor?
Investors face risks from widening financial losses, high ESOP costs, geopolitical volatility, and heavy dependence on top designers.
Q5. What are the potential upsides?
Potential upsides include a dominant market position, surging average order values, robust international expansion, and improving EBITDA margins.
Q6. How to apply for the IPO?
Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers.