Purple Style Labs Raises Rs 306 Cr From Anchor Investors Ahead of IPO

Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, has raised Rs 306 crore from anchor investors ahead of its initial public offering (IPO).

The company allotted 53.21 lakh equity shares to 10 anchor investors at Rs 575 per share, which is the upper end of its IPO price band. The anchor book includes mutual funds, insurance companies and global investment firms.

ICICI Prudential Leads Anchor Investment

ICICI Prudential Mutual Fund emerged as the largest investor in the anchor round, acquiring around 15.3 lakh shares worth nearly Rs 88 crore.

Jupiter India Fund invested approximately Rs 75 crore, while Aditya Birla Sun Life Insurance acquired shares worth nearly Rs 68 crore.

Other investors participating in the anchor book include ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies, Morgan Stanley Asia and BofA Securities Europe.

The participation from a mix of domestic and global institutional investors comes shortly before Purple Style Labs opens its public offering.

Rs 680 Cr IPO Opens on August 31

Purple Style Labs is set to launch its Rs 680 crore IPO on August 31, with the subscription window closing on September 2.

The IPO has been priced in a range of Rs 546 to Rs 575 per share and consists entirely of a fresh issue of shares.

Axis Capital and IIFL Capital Services have been appointed as the book-running lead managers for the offering, while KFin Technologies will serve as the registrar.

The IPO represents an important milestone for Purple Style Labs as the company looks to expand its luxury fashion business and strengthen its presence across domestic and international markets.

Building a Luxury Fashion Business

Purple Style Labs operates in the luxury fashion market through Pernia’s Pop-Up Shop, which offers designer clothing and other premium fashion products.

The company has been expanding its retail and digital presence as demand for luxury and designer fashion continues to develop across India and international markets.

Pernia’s Pop-Up Shop serves as the company's primary consumer-facing platform, connecting customers with a range of designer and luxury fashion products.

Revenue Grows in FY26

Purple Style Labs reported revenue from operations of Rs 558 crore in FY26, compared with Rs 490 crore in the previous fiscal year.

However, the company remained loss-making during the period. Its loss stood at Rs 285 crore for the financial year ended March 2026.

The financial performance highlights both the company's revenue growth and the investment required to expand its luxury fashion operations.

Institutional Backing Ahead of Public Listing

The Rs 306 crore anchor investment provides Purple Style Labs with institutional backing immediately before its public market debut.

Anchor investors typically participate in an IPO shortly before the broader subscription period, giving companies an early indication of institutional demand for their shares.

For Purple Style Labs, the anchor round comes as it prepares to transition from a privately backed luxury fashion business toward a publicly listed company.

The company will now enter the IPO subscription period with participation from a group of domestic mutual funds, insurance companies and international investment firms.