Luxury fashion platform Purple Style Labs plans Rs.660-Cr IPO

Mumbai-based Purple Style Labs , the parent company of Pernia's Pop-Up Shop, is expected to launch its initial public offering (IPO) of INR 660 crore by the end of August. The transaction is managed by Axis Capital and IIFL Capital Services as the bankers to the issue.The company operates a multi-brand luxury fashion omni-channel platform that features more than 2 lakh products from over 1,300 designers. It claims to maintain 14 experience centres and reported a gross merchandise value (GMV) of more than INR 588 crore in FY25.Purple Style Labs plans to use the proceeds from the IPO to invest in its subsidiary, PSL Retail, to cover lease liabilities for its experience centres and back-end offices in India. A portion of the funds will be allocated to sales and marketing activities.