Purple Style Labs raises ₹306 crore from anchor investors ahead of IPO launch on Monday

The Purple Style Labs IPO will open for subscription on Monday, August 31, and remain open until Wednesday, September 2. The price band has been fixed at ₹546– ₹575 per equity share.(Company Website)Purple Style Labs has allotted 5,321,739 equity shares to 10 anchor investors and raised ₹306 crore at the anchor investor allocation price of ₹575 per equity share ahead of the listing.

The shares have a face value of ₹10 each, including a share premium of ₹565 per equity share, according to the company’s exchange filing.

Marquee investors include ICICI Prudential Mutual Fund, Jupiter India Fund, The Jupiter Global Fund – Jupiter India Select, Aditya Birla Sun Life Insurance Company Limited, ITI Multi Cap Fund, ITI Flexi Cap Fund, Singularity Equity Fund I, Integrated Core Strategies (Asia) Pte. Ltd., Morgan Stanley Asia (Singapore) Pte., and BoFA Securities Europe SA – ODI.

Out of the total allocation of 5,321,739 equity shares to anchor investors, 1,739,192 equity shares, or 32.68% of the total allocation, were allotted to two domestic mutual funds through a total of three schemes.

Axis Capital Limited and IIFL Capital Services Limited are the book-running lead managers to the issue.

The Purple Style Labs IPO will open for subscription on Monday, August 31, and remain open until Wednesday, September 2. The price band has been fixed at ₹546– ₹575 per equity share.

The ₹680 crore IPO is entirely a fresh issue of 1.18 crore shares, with no offer-for-sale component. The IPO lot size has been fixed at 26 shares, requiring a minimum investment of ₹14,950 for retail investors.

The IPO has reserved up to 75% of the net offer for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs), and at least 10% for retail investors.

The allotment is expected to be finalised on Thursday, September 3, with shares likely to be credited to successful investors' demat accounts by Friday, September 4. Refunds for unsuccessful bidders will also be initiated on the same day. The mainboard IPO is proposed to list on both the NSE and BSE on Monday, September 7.

Incorporated in August 2015, Purple Style Labs Limited is a multi-brand luxury omni-channel fashion platform operating under Pernia’s Pop-Up Shop (PPUS). It offers a curated portfolio of luxury fashion products across womenswear, menswear, jewellery, accessories, and kidswear, with a focus on wedding and occasion wear.

As of March 31, 2026, the company sourced products from 1,109 active designer brands, including Seema Gujral, Anushree Reddy, Amit Aggarwal, and Rohit Gandhi & Rahul Khanna.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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