Now Reading: Purple Style Labs IPO price band set at Rs 546-575 per share
-
01
Purple Style Labs IPO price band set at Rs 546-575 per share
Purple Style Labs has fixed the price band for its initial public offering at Rs 546 to Rs 575 per share. The IPO, comprising a fresh issue of 1.18 crore equity shares,…
Purple Style Labs has fixed the price band for its initial public offering at Rs 546 to Rs 575 per share. The IPO, comprising a fresh issue of 1.18 crore equity shares, opens for subscription on 31 August and closes on 2 September. The total issue size is Rs 680 crore at the upper end of the price band.
The company, which owns the multi-brand luxury fashion platform Pernia's Pop-Up Shop, will use Rs 371 crore to fund lease liabilities for Experience Centres and Rs 138.90 crore for sales and marketing. Purple Style Labs operated 14 centres across India and London as of its DRHP filing, and plans additions in Mumbai and New York.
Basis of allotment will be finalised on 3 September, with refunds and demat credits on 4 September. The shares are tentatively slated to list on BSE and NSE on 7 September. The company's revenue grew from Rs 45 crore in FY20 to Rs 508 crore in FY24.
Indian Opinion Analysis
The IPO comes as India's luxury fashion market expands, driven by rising disposable incomes and a growing preference for branded occasion wear during weddings and festivals. Purple Style Labs' revenue jump from Rs 45 crore in FY20 to Rs 508 crore in FY24 reflects this trend, but the company remains loss-making after accounting for lease and marketing costs. The Rs 371 crore investment in subsidiary PSL Retail for Experience Centres signals a bet on physical retail, a capital-intensive shift from the asset-light online model. The book-running lead manager Axis Capital handled several fashion-related IPOs recently. The listing on 7 September will test investor appetite for a luxury retail stock amid a broader IPO market that saw mixed performances in 2025.
Source: livemint.com
This brief was synthesised by AI from the source linked above.
