Read Desk. The IPO of Purple Style Labs, which works in the premium fashion and luxury lifestyle segment, is going to open on 31 August 2026. This IPO of Rs 680 crore will be open for subscription till September 2. The company has fixed the price band of the share at Rs 546 to Rs 575.
GMP of Rs 34 is trending in the gray market, indicating a potential listing gain of about 5.9% compared to the upper price band. However, the company's losses have increased and its net worth has become negative, so it is important to understand its entire mathematics before investing.
Full IPO Fresh Issue of Rs 680 crore
The total issue size of Purple Style Labs IPO is Rs 680 crore and the entire issue is Fresh Issue. The company will issue about 1.18 crore new shares through this IPO. That means the entire amount received from the IPO will go to the company and will be used for business related expenses.
Price band of Rs 546 to 575, 26 shares in one lot
The company has fixed the price band of IPO at Rs 546 to Rs 575 per share. There will be 26 shares in one lot. According to the Upper Price Band, the retail investor will have to invest at least Rs 14,950 for one lot.
75% share to QIB, 10% share to Retail
The largest share in the IPO has been kept for Qualified Institutional Buyers i.e. QIB. He will get at least 75% share. A maximum of 10% is reserved for Retail Investors and a maximum of 15% is reserved for Non-Institutional Investors i.e. NII.
IPO will open from 31st August to 2nd September
Bidding in Purple Style Labs IPO will start from August 31, 2026 and investors will be able to apply till September 2. The share allotment is expected to be finalized on September 3. Listing of the company's shares on NSE and BSE is possible on 7 September 2026.
Luxury Fashion Business through Pernia's Pop-Up Shop
Established in August 2015, Purple Style Labs is a Multi-Brand Luxury Omnichannel Fashion Platform. The company sells women's and men's clothing, jewellery, accessories and children's fashion products under the Pernia's Pop-Up Shop i.e. PPUS brand. Its focus is especially on Wedding and Special Occasion Luxury Fashion.
As of March 31, 2026, there were 1,109 active designer brands on the platform. These include designers like Seema Gujral, Anushree Reddy, Amit Aggarwal and Rohit Gandhi & Rahul Khanna. The company has 14 Experience Centres, including 12 in India and one each in London and New York.
Income increased, but loss reached Rs 285 crore
The company's total income in FY2026 stood at Rs 567.07 crore, which is more than Rs 494 crore in FY2025. But during this period, the PAT loss of the company increased to Rs 285.40 crore, whereas in FY2025 it was Rs 188.38 crore.
EBITDA also declined from Rs 41.99 crore to Rs 30.37 crore. The total borrowings of the company increased from Rs 112.79 crore to Rs 371.40 crore. Whereas the net worth decreased from positive Rs 117.50 crore in FY2025 to negative Rs 52.28 crore in FY2026.
Where will the IPO money be spent?
Of the amount raised from the IPO, the company will invest about Rs 371.13 crore in its wholly owned subsidiary PSL Retail. This will be used to finance the lease liabilities related to Experience Centers and Back-End Office in India. Apart from this, Rs 138.90 crore will be spent on Sales and Marketing. The remaining amount has been kept for General Corporate Purposes.
34 rupees GMP indicates 5.9% listing gain
The Gray Market Premium i.e. GMP of Purple Style Labs IPO is said to be around Rs 34. If GMP of Rs 34 is added to the upper price band of Rs 575, then the estimated listing price becomes Rs 609. According to this, the potential profit comes to around 5.9%. However, GMP is an unofficial indicator and is subject to constant change. Actual listing price may differ from this.
Who are the Lead Manager and Registrar of IPO?
The book running lead manager of the Purple Style Labs IPO is Axis Capital Limited, while the registrar of the issue is Kfin Technologies Limited.
On one hand, there are things like luxury fashion business and increasing income in this IPO, while on the other hand, increasing losses, debt and negative net worth are big risk factors for investors. Therefore, instead of taking investment decision only by looking at GMP, it is important to also look at the financial performance and risk factors of the company.
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