Liquidity Events
Fashion platform Pernia’s Pop-Up Shop’s Rs.680-Cr IPO subscribed 1.29 times
The initial public offering (IPO) of Mumbai-based Purple Style Labs , the parent company of the luxury fashion platform Pernia’s Pop-Up Shop, was subscribed 1.29 times. The IPO got bids for 88,66,572 shares against 68,49,816 shares on offer. The portion for retail investors received 1.58 times subscription, while the category for qualified institutional buyers (QIBs) was subscribed 1.43 times. The quota for non-institutional investors got subscribed 84%.The 100% primary issue, which aimed to raise INR 680 crore, comprised a fresh issue of 1.18 crore equity shares with a price band set at INR 546 to INR 575 per share. The company had already raised INR 306 crore from anchor investors. Axis Capital and IIFL Capital Services are the book running lead managers to the issue.Founded in 2015 by Abhishek Agarwal, Purple Style Labs operates an omnichannel platform that includes a digital shopfront and 14 physical experience centres.The company intends to use the net proceeds to meet lease liabilities for its retail locations and back-end offices, as well as to fund sales and marketing initiatives to support its brand expansion and customer acquisition efforts.
Between Oct 2015 and Jul 2026, Purple Style Labs had attracted about USD 101 M from Augment Ventures, Astarc Ventures, Touchstone Capital, Volrado Ventures, Yuj Ventures, S Four Capital, Singularity AMC and others.For FY25, Purple Style Labs had reported about INR 86 Cr in Operating Income and about INR 100 Cr in Net loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
