Purple Style Labs Files Draft Papers with Sebi for Rs 660 Crore IPO

Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise Rs 660 crore through an initial public offering (IPO).

The proposed IPO is a fresh issue of equity shares and does not include any offer for sale (OFS) component, the filing revealed.

The Mumbai-based fashion firm is also planning a pre-IPO placement round to raise Rs 130 crore. If this round is completed, the size of the fresh issue in the IPO will be reduced accordingly.

Purple Style Labs operates in the luxury and premium fashion segment and aims to leverage the IPO proceeds to expand its retail presence, invest in technology, and strengthen its brand offerings.