Pernia’s Pop-Up Shop Parent Sets IPO Price Band At ₹546-₹575

Pernia’s Pop-Up Shop parent Purple Style Labs has set a price band of ₹546 to ₹575 per equity share for its upcoming ₹680 Cr initial public offering.

At the upper end of the price band, the multibrand luxury omnichannel fashion platform will command a post-issue market capitalisation of nearly ₹4,604 Cr (about $483 Mn). Its post-issue valuation at the lower end of the band would be approximately ₹4,406 Cr (about $463 Mn).

The IPO will open for subscription on August 31 (Monday) and close on September 2 (Wednesday). Anchor investor bidding is scheduled for Friday (August 28).

Bids can be placed for a minimum of 26 shares and in multiples of 26 thereafter. Consequently, retail investors will have to invest at least ₹14,196 at the lower end of the price band and ₹14,950 at the upper end.

The IPO comprises entirely a fresh issue of shares worth ₹680 Cr, with no offer for sale component.

A large chunk of the proceeds, ₹371.1 Cr, will be used to fund lease liabilities associated with the company’s network of experience centres. Another ₹138.9 Cr will be deployed towards sales and marketing expenses, while the remaining proceeds will be used for general corporate purposes.

Founded in 2015 by Abhishek Agarwal, Purple Style Labs operates an omnichannel fashion platform spanning experience centres, websites, mobile applications, telephone sales, retail channels, and exhibitions. Its portfolio includes Pernia’s Pop-Up Shop and designer labels such as Wendell Rodricks and Hemant Trivedi.

The company acquired Pernia’s Pop-Up Shop in 2018. The platform had around 1,109 designer brands in FY26, while its average order value stood at ₹75,504.9 during the fiscal year. 

(The story will be updated soon)

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