Upcoming IPO: Purple Style Labs Files for ₹660 Crore IPO with SEBI

Mumbai-based luxury fashion house Purple Style Labs Ltd has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking its intent to go public.

Purple Style Labs IPO Details

The upcoming initial public offering (IPO) will be a book-built issue consisting solely of a fresh issue of equity shares, with no Offer for Sale (OFS) component. The total issue size is pegged at ₹660 crore, with each share carrying a face value of ₹10.

Axis Capital Limited and IIFL Capital Services Limited are acting as the book-running lead managers for the public issue. Kfin Technologies Limited has been appointed as the registrar to the offer.

Use of IPO Proceeds

According to the draft filing, Purple Style Labs plans to allocate the IPO proceeds as follows:

• ₹363.29 crore will be infused into its wholly owned subsidiary, PSL Retail, to cover lease obligations for its Experience Centres and back-end offices across India.
• ₹128 crore will be directed towards sales and marketing initiatives, supporting the company’s brand-building and customer acquisition efforts.
• The remaining funds will be used for general corporate purposes, ensuring flexibility for strategic and operational needs.

Also Read: Matangi Rubber Files DRHP With SEBI For 37.09 Lakh Equity Share IPO

About Purple Style Labs

Founded in 2015, Purple Style Labs is an omnichannel luxury fashion platform catering to both Indian and international markets. The company blends physical retail with digital reach, offering curated luxury fashion through both offline stores and a rapidly growing online platform.

• Its online presence has attracted over 18.57 million unique visitors.
• The company currently operates brick-and-mortar stores in Mumbai, Delhi, Bengaluru, Hyderabad, and London.
• Flagship stores are located at Fort (Mumbai) and South Extension (Delhi).
• Upcoming retail locations include Linking Road (Mumbai) and New York (USA), underscoring its global expansion ambitions.

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