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₹546 - 575Day cells show that day's addition; Now is the running total. Amounts at the upper price band.
Purple Style Labs Ltd
TradingIPO
₹546 - 575
Purple Style Labs Ltd operates "Pernia’s Pop-Up Shop", India's largest multi-brand luxury omni-channel fashion platform by FY24 revenue, aggregating designer wedding and occasion wear across physical Experience Centers and an international digital storefront. The company sources curated samples from over a thousand independent designers, taking upfront customer payments before procuring finished garments to insulate itself from unpaid inventory risk.
Lot26Min Invest₹14,950Face Value₹10Issue Size₹680 CrFresh Issue₹680 Cr
Timeline
31 Aug
Bidding opens
2 Sept
Bidding closes
3 Sept
Allotment
4 Sept
Refund & demat credit
7 Sept
Listing
Subscription · As of 4:54 PM, 2 Sept
Demand by day
CategoryDay 3Now+1.43x1.43x+0.84x0.84x+1.57x1.57xOverall+1.29x1.29x
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB1.43x84.22 L1.20 Cr690.48NII0.84x16.84 L14.15 L81.36Retail1.57x11.23 L17.60 L101.18Total1.29x1.18 Cr1.53 Cr877.20
Reports
Offer Details
Terms
Issue Size₹680 Cr1.18 Cr shares
Fresh Issue₹680 Cr
Face Value₹10
Lot Size26 shares
ReservationQIB 75% · NII 15% · RETAIL 10%
Application Sizes
Retail₹14,9501-13 lots
sNII₹2,09,300from 14 lots
bNII₹10,01,650from 67 lots
Managers & Registrar
Lead ManagerAxis Capital Limited
Co-ManagerIIFL Capital Services Limited
RegistrarKFin Technologies Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group26.34%24.08%Public73.66%75.92%
Objects of the Issue
- Investment in the wholly owned Subsidiary, PSL Retail for expenditure towards lease liabilities of Experience Centers, and back-end offices in India
- Funding towards sales and marketing expenses to be incurred by the Company
- General corporate purposes
Anchor Book
Bid Date28-Aug-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 369 | 504 | 490 | 558 |
| Operating ProfitCr | 0 | 26 | 38 | 21 |
| OPM% | 0.0 | 5.2 | 7.7 | 3.8 |
| PBTCr | -41 | -48 | -188 | -285 |
| PATCr | -41 | -48 | -188 | -285 |
| EPS | -7 | -7 | -29 | -42 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | 68 |
| ReservesCr | 58 | 39 | 117 | -121 |
| BorrowingsCr | 168 | 310 | 287 | 784 |
| Total AssetsCr | 330 | 460 | 497 | 830 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | -44 | -31 | -45 | -35 |
| Investing Cash FlowCr | -13 | -17 | -12 | -52 |
| Financing Cash FlowCr | 47 | 44 | 64 | 93 |
| Net Cash FlowCr | -10 | -4 | 7 | 5 |
Strengths & Risks
Strengths · as stated in the DRHP
- According to the 1Lattice Report, we are one of the largest and fastest growing multi-brand luxury omni-channel fashion platform in India in terms of revenue in Financial Year ended 2025, serving customers in India and abroad.
- We have implemented an omnichannel model that seamlessly integrates our online platform with physical Experience Centers.
- We have established a strong and growing international presence, serving a diverse global customer base across multiple countries.
- We have established ourselves as a premier luxury fashion destination for Indian Designer Brands.
- We have a robust management team and an experienced Board.
Strategies · as stated in the DRHP
- Expand our footprint in key luxury markets.
- Deepen our existing customer base.
- Increase and optimize our product categories and Designer Brand mix.
- Continue to focus on profitability and cost structure.
Risks · as stated in the DRHP
- The company has in the past incurred losses, negative retained earnings amounting to Rs. 7,102.86 million as of March 31, 2026 and negative net cash flows from operating activities. If its continue to faces an increase in the company's losses or negative retained earnings or have negative cash flows over extended periods, it could have an adverse impact on the company's results of operations, financial condition and cash flows.
- The company derives a substantial portion of Total PPUS GMV from the womenswear category (77.70%, 75.66% and 77.88% of its Total PPUS GMV in Fiscals 2026, 2025 and 2024). Any variations in demand and changes in consumer preference for the company's womenswear collection could have a material adverse effect on its business, financial condition, cash flows, results of operations and prospects.
- The company depends on its Experience Centers for a significant portion of the company's Total PPUS GMV (its PPUS GMV derived from the company's Indian Experience Centers was 74.72%, 66.41% and 56.20% of the Total PPUS GMV for Fiscals 2026, 2025 and 2024, respectively1). Any disruptions to the operations of these Experience Centers or limitations on its ability to expand and grow these Experience Centers may adversely affect the company's business, financial condition, cash flows, results of operations and prospects.
- The company depends on its website and mobile application for the company's online sales (its PPUS GMV derived from the company's online channels was 9.05%, 10.75% and 15.68% of the Total PPUS GMV for Fiscals 2026, 2025 and 2024, respectively2) and relies on mobile operating systems and application marketplaces to make the company's applications available to participants that utilize its platform. Any disruption to the company's website or mobile application, including due to technical issues, cyber-attacks, changes in consumer behavior, or adverse changes in mobile operating system policies or application marketplace placements, could adversely affect its business, financial condition, cash flows, results of operations and prospects.
- Changes in international trade policies, geopolitics and trade tariffs, export controls, economic or trade sanctions may materially and adversely affect its business, financial condition and results of operations.
- Any inability on the company's part to enhance its presence, increase the company customer base, retain existing customers, increase sales to the company's customers and expand its footprint may adversely impact the company's business, financial condition, cash flows, results of operations and prospects.