Purple Style Labs IPO - Listing Performance & Details

Purple Style Labs Limited was incorporated as Purple Style Labs Private Limited on August 6, 2015, and converted into a public limited company on December 13, 2023. It is headquartered in Mumbai, Maharashtra, and works in the luxury fashion retail sector.

The company operates Pernia's Pop-Up Shop (PPUS), a multi-brand luxury omni-channel fashion platform that curates and retails designer-led fashion across womenswear, menswear, jewellery, accessories and kidswear, with a focus on wedding and occasion wear. As of March 31, 2025, PPUS offered products from 1,312 designer brands across 211,727 SKUs, accessible through its website, mobile app and physical Experience Centres. The company operates 14 Experience Centres, 13 in India and one in London, and served customers in 140 countries between FY23 and FY25. It follows an asset-light, marketplace-led model. The company is founded and promoted by Abhishek Agarwal, who holds a 27.1% stake.

Operating revenue declined to Rs 490 crore in FY25 from Rs 504 crore in FY24, while net loss widened to Rs 188.6 crore in FY25 from Rs 47.7 crore in FY24, largely on account of Rs 122.7 crore in ESOP-related expenses. Gross merchandise value rose to Rs 588.3 crore in FY25. This is a mainboard IPO, comprising entirely a fresh issue of equity shares aggregating up to Rs 660 crore, with no offer-for-sale component, proposed to be listed on the NSE and BSE. Of the net proceeds, Rs 363.3 crore is earmarked for investment in wholly owned subsidiary PSL Retail toward lease liabilities for experience centres and back-end offices, with the balance for sales and marketing initiatives and general corporate purposes. The company may also undertake a pre-IPO placement of up to Rs 130 crore, which would reduce the fresh issue size correspondingly.