Purple Style Labs Couture for Capital: The Fashion IPO Worth Rs 660 Crore

Purple Style Labs, the powerhouse behind the luxury fashion platform Pernia's Pop-Up Shop, is entering the capital markets arena, filing for an initial public offering (IPO) with a target of Rs 660 crore. According to the draft red herring prospectus, the IPO will solely consist of fresh equity shares without any offer for sale component.

The Mumbai-based fashion giant aims to raise Rs 130 crore in a pre-IPO placement, potentially scaling down the fresh issue size. The proceeds are earmarked for strategic investments, including Rs 363.3 crore into PSL Retail for leasing liabilities and Rs 128 crore towards sales and marketing enhancements, with remaining funds allocated to general corporate purposes.

Over the years, Purple Style Labs has made significant strides in financial growth, reflected in increased order values and refined customer engagement. The luxury retailer prides itself on an extensive portfolio, hosting 2.12 SKUs from over 1,312 designer brands, serving an international customer base spanning over 100 countries through its flagship UK experience centre and robust digital channels.

(With inputs from agencies.)