Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, has raised ₹306 crore from anchor investors ahead of its upcoming initial public offering (IPO).
The company allotted 53.21 lakh equity shares to 10 anchor investors at ₹575 per share, the upper end of its IPO price band. The strong anchor participation comes just before Purple Style Labs opens its ₹680 crore public issue for subscription on August 31.
The anchor investor list includes a mix of domestic institutional investors, insurance companies and global investment firms. ICICI Prudential Mutual Fund emerged as the largest participant, acquiring around 15.3 lakh shares worth nearly ₹88 crore. Jupiter India Fund invested approximately ₹75 crore, while Aditya Birla Sun Life Insurance picked up shares worth nearly ₹68 crore.
Other participants in the anchor round include ITI Mutual Fund, Singularity Equity Fund I, Integrated Core Strategies, Morgan Stanley Asia and BofA Securities Europe.
The anchor investment provides an important institutional vote of confidence as Purple Style Labs prepares for its public-market debut. The company’s ₹680 crore IPO will open on August 31 and close on September 2, with a price band of ₹546–575 per share.
The issue consists entirely of a fresh issue of equity shares, meaning the capital raised will flow into the company rather than towards an offer for sale by existing shareholders. Axis Capital and IIFL Capital Services are the book-running lead managers, while KFin Technologies is the registrar to the issue.
Purple Style Labs operates in India’s growing luxury fashion ecosystem through Pernia’s Pop-Up Shop, which offers designer wear and luxury fashion products. The company has been building its presence across India while also expanding into international markets.
Financially, Purple Style Labs reported revenue from operations of ₹558 crore in FY26, compared with ₹490 crore in the previous fiscal year, reflecting continued growth in its luxury fashion business. However, the company reported losses of ₹285 crore for the financial year ended March 2026.
The IPO and anchor round mark a significant moment for Purple Style Labs as it transitions towards the public markets. With institutional investors backing the company ahead of listing, the luxury fashion platform is entering its next phase with greater visibility and access to growth capital.
For India’s broader consumer and luxury ecosystem, Purple Style Labs’ market debut will also be closely watched as a test of investor appetite for scaled omnichannel luxury fashion businesses.
Source: Based on publicly available reporting, with additional editorial adaptation and analysis.
