Purple Style Labs raises ₹306 Cr from anchors ahead of ₹680 Cr IPO
What's the deal? Purple Style Labs, the parent of luxury fashion platform Pernia's Pop-Up ShopDealroom has a profile for this one. Try Dealroom →, raised ₹306 crore from anchor investors ahead of its ₹680 crore IPO, which opens August 31 and closes September 2. The company allotted 53.22 lakh shares to 10 anchors at ₹575 apiece.
The details: The offering is a fresh issue with no offer-for-sale component, priced at ₹546–575 per share. At the top of the band, it values Purple Style Labs at over ₹4,600 crore.
Who's backing it? Anchor investors include ICICI Prudential Mutual FundDealroom has a profile for this one. Try Dealroom →, Jupiter India Fund, Aditya Birla Sun Life InsuranceDealroom has a profile for this one. Try Dealroom →, ITI Mutual FundDealroom has a profile for this one. Try Dealroom →, Singularity Equity Fund IDealroom has a profile for this one. Try Dealroom →, Integrated Core Strategies (Asia)Dealroom has a profile for this one. Try Dealroom →, Morgan Stanley Asia (Singapore), and BofA Securities EuropeDealroom has a profile for this one. Try Dealroom →. The company, promoted by Abhishek Agarwal, also lists celebrity investors including Shah Rukh Khan, Salman Khan, Sachin Tendulkar, Madhuri Dixit, and Mahesh Babu.
What's the endgame? Purple Style Labs plans to use ₹371.13 crore for lease liabilities tied to experience centres and back-end offices via subsidiary PSL RetailDealroom has a profile for this one. Try Dealroom →, and ₹138.90 crore for sales and marketing. The rest goes to general corporate purposes.
The company: It runs a multi-brand luxury fashion omni-channel platform, offering more than 200,000 products from over 1,300 designers across its digital platform and 14 physical experience centres.
Who's running it? Axis CapitalDealroom has a profile for this one. Try Dealroom → and IIFL Capital ServicesDealroom has a profile for this one. Try Dealroom → are the book-running lead managers, with KFin TechnologiesDealroom has a profile for this one. Try Dealroom → as registrar.
The signal: The listing tests investor appetite for India's luxury fashion retail, backing an omni-channel model that pairs digital reach with physical experience centres. Strong anchor participation ahead of subscription points to demand for the sector.
Read more: money.rediff.com
Image credit: picto:graphic
