Purple Style Labs, backed by SRK, Tendulkar, files Rs 660 crore IPO

Purple Style Labs, the parent company of Pernia's Pop-Up Shop, is set to launch an initial public offering of Rs 660 crore by the end of August. The company, backed by celebrities including Shah Rukh Khan, Sachin Tendulkar, and Madhuri Dixit, filed its updated draft red herring prospectus with Sebi, which had approved the IPO in January.

The IPO consists entirely of a fresh issue of shares, with no offer-for-sale component. Proceeds will fund lease liabilities for experience centres and back-end offices through subsidiary PSL Retail, with part allocated to sales and marketing and the rest for general corporate purposes.

The company has seen strong growth, with revenue rising from Rs 45 crore in FY20 to Rs 508 crore in FY24. In FY25, it reported a gross merchandise value of over Rs 588 crore, with an average order value of Rs 56,106. Axis Capital and IIFL Capital Services are the bankers to the issue.