Purple Style Labs IPO (Pernia's Pop-Up Studio) GMP, Date, Price Band & Review

Purple Style Labs IPO Details

The Purple Style Labs IPO is a book-built mainboard issue of ₹680 crore, entirely a fresh issue of 1.18 crore equity shares. Each share has a face value of ₹10.

The IPO is to be listed on both BSE and NSE platforms. The price band is set between ₹546 to ₹575 per share. The lot size for an application is 26. The minimum investment for an individual (retail) investor is ₹14 950 (26 shares). The IPO window will be open for subscription from Monday, August 31, 2026 to Wednesday, September 2, 2026.

Axis Capital Ltd. and IIFL Capital Services Ltd. are the book-running lead managers and KFin Technologies Ltd. serves as the registrar of the issue.

Purple Style Labs IPO Date & Timeline

Purple Style Labs Limited IPO filed its draft red herring prospectus on September 22, 2025. The IPO will open on Monday, August 31, 2026 and it will close on Wednesday, September 2, 2026. The basis of allotment is expected to be finalised on September 3, 2026 and then refunds plus credit of allotted shares will be done to investors’ demat accounts by September 4, 2026. The listing date on BSE & NSE platforms is set for September 7, 2026.

Company Background

Purple Style Labs Limited was established as a private limited company on August 6, 2015 and then converted to a public limited company on December 13, 2023. Purple Style Labs Limited operates as the parent company of Pernia’s Pop-Up Shop, which provides a multi-brand luxury omni-channel fashion platform to customers both in India and internationally.

The company sells designer brands of specific Indian designers, including Seema Gujral, Anushree Reddy, Amit Aggarwal and Rohit Gandhi & Rahul Khanna. Product categories include women’s and men’s wear and jewellery and accessories, as well as kids' wear, with a focus on the wedding and occasion wear segments.

The company combines fashion, digital commerce and retail. Its multi-channel fashion operation includes experience centres, a website and a mobile application, telephonic and digital sales and events and exhibitions, supported by the increasing demand for designer fashion in India and abroad.

Operations & Product Range

Purple Style Labs Limited combines physical and digital retail under Pernia’s Pop-Up Shop with curated events. As of March 31, 2026, the company operated 14 experience centres. 12 of these centres are in India, while the remaining 2 are in the United Kingdom and the United States.

Their major product categories comprise:

Womenswear: bridal lehengas, sarees, gowns, dresses, anarkalis, sharara sets, kurta sets, kaftans, skirt sets, jumpsuits, co-ord sets, tops, pants, tunics and other occasion wear, like that kind of special vibe too

Menswear: sherwanis, kurta sets, tuxedos, bandhgalas, Nehru jackets, indo-western wear, shirts, pants and other formal and occasion wear

Jewellery: necklaces, earrings, cuffs, bracelets, rings, bangles, brooches, nose rings, maangtikas, kaleeras, ear cuffs and other jewellery pieces, like accessories but smaller

Accessories: bags, shoes, shawls, stoles, hair accessories, belts, buttons, cufflinks, pocket squares and ties

Kidswear: lehengas, kurta sets, gowns, Nehru jackets, sherwanis and blazer sets

Their inventory is designed just around what’s ‘in’ and what’s ‘hot’ for the season; they offer a variety of styles and silhouettes for men, women and kids. In addition to these segments, they also offer jewellery and accessories for your outfit’s finishing touches.

Facilities & Capacity

Purple Style Labs Limited integrates its online channel with its physical locations in the ‘Pernia’s Pop-Up Studios’ format through an omnichannel approach.

The company has built large-format experience centers in Mumbai, Delhi, Hyderabad and New York City. The built-up area for these centers is between 20,000 and 60,000 square feet. This has enabled the company to host a large selection of designer products and provide an immersive experience for luxury shopping. Mumbai and Delhi remain the two largest revenue-generating markets.

The company has also built facilities to support logistics, inventory management, customer service and technology, making back-end offices. As of March 31, 2026, it had 1,266 permanent employees.

The physical retail network remains a core component of the business. The proceeds of the IPO will also be used to partially finance lease obligations of new experience centers and back-end offices in India.

Brands & Market Presence

Purple Style Labs Limited is a multi-brand luxury omni-channel fashion platform operating through Pernia’s Pop-Up Studio brand, building it into one of India's leading multi-brand luxury fashion platforms. Since then, the company has grown PPUS into a curated destination where customers from India buy high-end fashion from a handpicked set of designer brands. As of March 31, 2026, the platform had sourced products from 1,109 active designer brands in India as well as outside, which included Seema Gujral, Anushree Reddy, Amit Aggarwal and Rohit Gandhi & Rahul Khanna.

Pernia's Pop-Up Studio has a strong customer base internationally. Products are shipped to the U.S.A., the U.K., Australia, Canada, the Middle East and Southeast Asia. PPUS supports designer brands with an omnichannel strategy, which combines the presence of experience centres with online and digital sales channels to cover different regions.

Pernia's Pop-Up Studio aggregates the demand for Indo-fashion designer brands, making it convenient for both established and emerging designers to reach their high-end customer base without the need to build a retail infrastructure on their own. Their brand further draws on equity investment made by celebrity investors such as Shah Rukh Khan, Madhuri Dixit and Sachin Tendulkar.

Revenue Streams & Business Model

Purple Style Labs Limited generates revenue through the multi-brand channel Pernia's Pop-up Studio

• • Monetises through commissions and product margins while designers retain their brand identity and creative control
• • Omni-channel integration provides seamless integration of customer purchasing experiences across both networked experience centres and digital assets.
• • High levels of customer retention are due to customised services and product offerings that drive customer purchase frequency.

The business model is based on network effects, whereby a greater designer brand offering attracts more customers, while active customers make the platform even more appealing to additional designers. The business remains reliant on the strength of its designer partner networks and customer spending on high-end wedding and occasion wear.

Financial Performance

Purple Style Labs Limited revenue in FY26 grew to ₹557.83 crore, showing an increase of ₹489.90 crore from FY25. While both EBITDA and total income increased, loss after tax remarkably increased from ₹188.38 crore to ₹285.40 crore due to an exceptional charge relating to the company's ESOPs, along with increased depreciation and financing costs related to the company's aggressive expansion of its Experience Centres.

For FY26, total assets increased from ₹497.05 crore to ₹829.60 crore, while net worth changed from ₹117.50 crore to ₹52.28 crore. The EBITDA margin decreased sharply from 8.57% to 5.44% and ROCE decreased from negative 4.75% to negative 23.56%, indicating that the company's aggressive fast store rollout has impacted the profitability of the company and furthermore, the company has an even more leveraged balance sheet.

Management & Shareholding

Purple Style Labs Limited has Abhishek Agarwal as its promoter and whole-time director, as well as the company's CEO. And solely holds 26.34% of the company's equity, while the rest of the stake, 73.66%, is held by others.

Board & Key Management

Purple Style Labs Limited is led by professionals including Hrishikesh Parandekar, a McKinsey & Company alumnus and an independent director and senior partner at Alpha Alternatives, who has been appointed board chair. Abhishek Agarwal and Abhinav Agarwal are the whole-time directors. Mr Hrishikesh Bhalchandra Parandekar and Ms Shefali Saroh Shyam are independent directors. Gulshan Mumtaz Khan has been appointed as company secretary and compliance officer.