Pernia’s Pop Up Shop Parent Files RHP, Increases IPO Size To ₹680 Cr
Superadmin
Months after receiving the markets regulator’s nod for its IPO, Pernia’s Pop Up Shop parent Purple Style Labs has filed its red herring prospectus (RHP) for a fresh issue-only initial public offering. The company has increased the IPO size to ₹680 Cr, a ₹20 Cr increase from the initially proposed IPO size.
The IPO will open for subscription on Monday (August 31) and close on Wednesday (September 2). Anchor bidding will take place on August 28 (Friday).
The IPO comprises only a fresh issue of shares worth up to ₹680 Cr, with no offer for sale component.
Pernia’s parent filed its draft IPO papers with SEBI in September 2025 and got the regulator’s approval to proceed with the IPO in January. Since then, it raised ₹162 Cr debt across multiple tranches.
A large chunk of the fresh capital raised, ₹371.1 Cr to be precise, will be used to fund lease liabilities of Pernia’s Pop Up Stores’ experience center networks. The company operates 12 experience centres and 2 back-end offices across the country. It also has two experience centres abroad — in London and New York.
The company also plans to use ₹138.9 Cr to fund sales and marketing expenses till the fiscal year FY30. The remaining funds will fuel general corporate purposes.
Founded in 2015 by Abhishek Agarwal, Purple Style Labs is an omnichannel luxury fashion house that operates designer brands like Pernia’s Pop Up Studio & Shop, Wendell Rodricks, Hemant Trivedi, among others.
It has raised a private equity funding of about $78 Mn till date from investors like Harish Shah Family Office, Masaba Gupta, among others. Celebrities like Salman Khan, Shah Rukh Khan (on behalf of Gauri Khan Family Trust), Shraddha Kapoor, among others, are also investors of the company.
It houses offerings from top designers like Seema Gujral, Anushree Reddy, Amit Aggarwal, and Rohit Gandhi Rahul Khanna, spanning the wedding, occasion wear, menswear, and accessory categories.
It bought Pernia’s PoP-Up Shop (PPUS) in 2018. In FY26, PPUS average order value stood at ₹75,504.9 with around 1,109 designer brands available on the platform.
On the financial front, Purple Style Labs net loss jumped 51% YoY to ₹285.4 Cr in the fiscal ended in March 2026 from ₹188.4 Cr in FY25. Meanwhile, its revenue from operations increased almost 14% YoY to ₹557.8 Cr in the fiscal under review from ₹489.9 Cr in the same fiscal last year.
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