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HomeIPOPurple Style Labs

About Purple Style Labs

Purple Style Labs Ltd. was incorporated in the year 2015 and is currently running an omni-channel fashion platform, Pernia's Pop-Up Shop (PPUS). This platform offers shopping options to customers by use of PPUS Website, Mobile Application (Android/iOS) and Experience Centers. As at 31st March 2025, PPUS had 211,727 SKUs with 1,312 active designer brands in product categories like ladies wear, gents wear, jewelry, accessories and kids wear. Notable names in PPUS platform are those of Seema Gujral, Anushree Reddy, Amit Aggarwal and Rohit Gandhi & Rahul Khanna. From Fiscal 2023 up to Fiscal 2025, PPUS has served more than 200,000 unique customers in more than 140 countries. In just the fiscal year 2025, the firm had 18.57 million unique visitors, 70,651 customers and 104,856 orders from more than 100 countries. The firm has created a global reach of customers with its flagship Experience Center based in London, UK and intends to add another one in New York, USA. International markets include United States of America, United Kingdom, Middle East and Canada.

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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
Live IPO
Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Purple Style Labs

Purple Style Labs

Open Date

Aug 31, 2026

Close Date

Sep 2, 2026

listed

Min Investment

₹14,950

Lot Size

26 Shares

Issue Size

₹680 Cr

Price Range

₹546 - ₹546

Listing Date

Sep 7, 2026

IPO Doc

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Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

Grey Market Premium (GMP) Trend

Purple Style Labs IPO - Issue Objectives

₹371.13 crore will fund lease liabilities for experience centres and back-end offices. The company will use ₹138.90 crore to fund sales and marketing expenses. Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Investment in subsidiary

54.5%

Sales and marketing expenses

20.4%

General corporate purposes

24.9%

1

Investment in subsidiary

₹371.13 crore will fund lease liabilities for experience centres and back-end offices.

54.50%
2

Sales and marketing expenses

The company will use ₹138.90 crore to fund sales and marketing expenses.

20.40%
3

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

24.90%

IPO Subscription Status

QIB
1.50x
NII
0.89x
Individual
1.66x
Total
1.36x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Purple Style Labs

In Cr.

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Wide designer network and product range

PPUS offers 208,490 SKUs across 1,109 active designer brands as of March 31, 2026. Its portfolio covers womenswear, menswear, jewellery, accessories and kidswear, giving customers a wide choice across categories.

02

Omnichannel model supports higher spending

PPUS combines its online platform with physical Experience Centres in major cities. In FY26, AOV at its Indian experience centers was ₹90,651, compared with ₹38,753 online, making the in-store AOV 2.34 times higher.

03

Premiumisation has lifted AOV

The company has reduced lower-value brands and products and increased its focus on premium offerings. PPUS AOV rose from ₹45,513 in FY24 to ₹75,505 in FY26, a 28.80% CAGR.

04

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Increasing losses, negative cash flow

Losses increased to ₹285.40 crore in FY26 from ₹47.71 crore in FY24, with negative retained earnings of ₹710.29 crore. Operating cash flows remained negative through all three fiscal years due to ESOP expenses and expansion of experience centres.

02

Strong dependence on key experience centers

74.7% of the total PPUS GMV was generated from experience centres in FY26, out of which Delhi and Mumbai alone generated over 51%. Any disruption or unfavourable lease agreements in these centres would be risky.

03

Contact Details

Purple Style Labs

CTS No. 1081, Plot no. 110 TPS Village, Service Road, Western Express Highway, Vile Parle East, Mumbai, Maharashtra, 400057

+91225033360
investor.relations@purplestylelabs.com
https://www.purplestylelabs.com/

Purple Style Labs IPO - FAQs

Purple Style Labs IPO is a Mainboard IPO. The issue is priced at 546-₹575. The minimum order quantity is 26 Shares. The IPO opens on 31 Aug, and closes on 2 Sep. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

IPO Timeline

  • Pre Apply2026-08-28
  • Bidding Starts2026-08-31
  • Bidding Ends2026-09-02
  • Allotment Finalisation2026-09-03
  • Release of Funds2026-09-04
  • Demat Transfer2026-09-04
  • Listing2026-09-07

Network effects enable retention

Repeat customers have grown to 28.8% of the base in FY26 compared to 22.2% in FY24, while the top 10,000 customers have contributed 56.2% of total PPUS GMV. Average GMV per customer has increased by 29.8% YoY to ₹1,08,159.

Tariffs on US trade and exposure

The US generated up to 22.2% of the total PPUS GMV in FY24. The exposure to fluctuations in tariffs (up from 25% to 18%) was there in FY24. There is no formal currency hedging strategy in place.

04

High debt and low coverage ratios

The company’s total borrowings increased three times to ₹371.40 crore in FY26, with a debt service coverage ratio of only 0.08x. The interest coverage ratio also turned negative at (0.72).

05

High turnover of frontline employees

Permanent employee turnover rate was high at 41-46% between FY24 and FY26. It’s a problem for a people-led retail model depending on frontline employees.