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Purple Style Labs Ltd IPO

Tech-led NBFC delivering AI/ML driven retail credit across Tier-2 & Tier-3 India.

Listed
Price Band ₹575 per share per share
Lot Size 26 Shares
Min. Investment ₹14950
Issue Size ₹680 Cr
Face Value ₹10
IPO Open 31 August 2026
IPO Close 02 September 2026
Allotment 03 Sep 2026
Listing 07 Sep 2026
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Subscription status for Purple Style Labs Ltd IPO

As of 12 Sep 26, 4:00 PM. Will get Updated in every 30 minutes

QIB -

Qualified Institutional Buyers

NII -

Non-Institutional Investors

Retail -

Retail Individual Investors

Total -

Across all investor categories

Key dates

IPO schedule for Purple Style Labs Ltd

From the day bidding opens to listing — every milestone you need to track.

IPO Open 31 Aug 2026
IPO Close 02 Sep 2026
Allotment 03 Sep 2026
Refund / Unblock 04 Sep 2026
Listing 07 Sep 2026
About the company

Who is Purple Style Labs Ltd ?

Purple Style Labs Limited was incorporated as Purple Style Labs Private Limited' as a private limited company on August 6, 2015 at Mumbai. Subsequently, Company was converted to a public limited company on December 13, 2023 and its name was changed from Purple Style Labs Private Limited to Purple Style Labs Limited via fresh Certificate of Incorporation issued by the Registrar of Companies, Mumbai.

The primary business of the Company is the retail of womenswear, menswear and other categories of products including jewellery, accessories and kids wear through its omnichannel platform comprising the online platforms in the name and style of Pernia's Pop-Up Shop and physical experience centers, in the name and style of Pernia's Pop-up Studios.

Pernia's Pop-Up Shop (PPUS) is one of the largest and fastest growing multi-brand luxury omni-channel fashion platform, serving customers in India and abroad. The omni-channel platform includes Experience Centers, the online platforms of PPUS including website, mobile application, other telephonic and digital sales channels and events and exhibitions, among others.

In February 2018, Company acquired the assets of Pernia's Pop-Up Shop. At the time of the acquisition, Pernia's Pop-Up Shop was mainly an online platform and has since transformed into an omni-channel platform, with Experience Centers and a robust presence. The Company thereafter, opened first flagship Experience Center in Juhu, Mumbai in 2018, which now has expanded the store presence to 14 Experience Centers globally, 13 of which are in India and one Experience Center is in London, UK.

In 2022, Company opened a Large Format Experience Center in Mehrauli, Delhi, and in Hyderabad, Telangana in FY24. In 2025, Company has further opened 2 Large Format Experience Centers at South Extension, Delhi and Fort, Mumbai. Company also in the process of opening two new Experience Centers on Linking Road, Mumbai and in New York, USA, respectively.

Company is planning the initial public offer by raising funds of Rs 660 Cr equity shares through fresh issue.

Financial track record

Financials at a glance

Three-year trajectory of revenue, profit and assets — restated as per the RHP.

Revenue PAT Total Assets
FY 2026
FY 2025
FY 2024
Metric (₹ Cr)FY 2026FY 2025FY 2024
Total Income138.40108.49124.30
EBITDA-70.01-88.4921.63
PAT-77.36-99.5912.18
AUM400.99352.67194.56

Strengths & Risks

A balanced look at what works in the company's favour and what investors should watch.

Strengths

  • According to the 1Lattice Report, we are one of the largest and fastest growing multi-brand luxury omni-channel fashion platform in India in terms of revenue in Financial Year ended 2025, serving customers in India and abroad.
  • We have implemented an omnichannel model that seamlessly integrates our online platform with physical Experience Centers.
  • We have established a strong and growing international presence, serving a diverse global customer base across multiple countries.
  • We have established ourselves as a premier luxury fashion destination for Indian Designer Brands.
  • We have a robust management team and an experienced Board.

Risks

  • The company has in the past incurred losses, negative retained earnings amounting to Rs. 7,102.86 million as of March 31, 2026 and negative net cash flows from operating activities. If its continue to faces an increase in the company's losses or negative retained earnings or have negative cash flows over extended periods, it could have an adverse impact on the company's results of operations, financial condition and cash flows.
  • The company derives a substantial portion of Total PPUS GMV from the womenswear category (77.70%, 75.66% and 77.88% of its Total PPUS GMV in Fiscals 2026, 2025 and 2024). Any variations in demand and changes in consumer preference for the company's womenswear collection could have a material adverse effect on its business, financial condition, cash flows, results of operations and prospects.
  • The company depends on its Experience Centers for a significant portion of the company's Total PPUS GMV (its PPUS GMV derived from the company's Indian Experience Centers was 74.72%, 66.41% and 56.20% of the Total PPUS GMV for Fiscals 2026, 2025 and 2024, respectively1). Any disruptions to the operations of these Experience Centers or limitations on its ability to expand and grow these Experience Centers may adversely affect the company's business, financial condition, cash flows, results of operations and prospects.
  • The company depends on its website and mobile application for the company's online sales (its PPUS GMV derived from the company's online channels was 9.05%, 10.75% and 15.68% of the Total PPUS GMV for Fiscals 2026, 2025 and 2024, respectively2) and relies on mobile operating systems and application marketplaces to make the company's applications available to participants that utilize its platform. Any disruption to the company's website or mobile application, including due to technical issues, cyber-attacks, changes in consumer behavior, or adverse changes in mobile operating system policies or application marketplace placements, could adversely affect its business, financial condition, cash flows, results of operations and prospects.
  • Any inability on the company's part to enhance its presence, increase the company customer base, retain existing customers, increase sales to the company's customers and expand its footprint may adversely impact the company's business, financial condition, cash flows, results of operations and prospects.
  • The company depends on its top Designer Brands for a significant portion of the company's Total PPUS GMV (Its top 10 Designer Brands contributed 30.24%, 26.54% and 23.44% of the company's Total PPUS GMV in Fiscals 2026, 2025 and 2024). If the company fails to retain its existing Designer Brands or add new designer brands to the company's portfolio in a cost-effective manner, or if the company Designer Brands fails to supply quality products, its business, financial condition, cash flows, results of operations and prospects may be adversely affected.
  • The company's Designer Brands set their own prices for products that are sold on its online platform. Additionally, the company faces contractual risks relating to the non-exclusive agreements with its Designer Brands, which could affect the company's ability to respond to consumer preferences and trends.
  • The company may be unable to adequately maintain, protect and enforce its intellectual property rights, and may not be able to prevent others from unauthorized use of the company's intellectual property and other proprietary rights, which could harm its business and competitive position.
  • The company has incurred indebtedness in the past. Its inability to obtain further financing or meet the company's obligations, including financial and restrictive covenants under its debt financing arrangements and to maintain a high debt service coverage ratio (the company's debt service coverage ratio was 0.08, 0.37, and 0.27 for the Fiscals 2026, 2025 and 2024, respectively) could adversely affect its business, financial condition, cash flows, results of operations and prospects.
  • The company derives a significant portion of its Total PPUS GMV from outside India (20.29%, 28.38% and 35.07% of the company's Total PPUS GMV in Fiscals 2026, 2025 and 2024) which exposes it to risks inherent to operations in these foreign jurisdictions. Any adverse developments in the international markets that the company operates or intend to expand to, including but not limited to foreign currency exchange rate fluctuations, could have an adverse effect on its business, financial condition, cash flows, results of operations and prospects.

Purple Style Labs Ltd IPO — frequently asked questions

The Purple Style Labs Ltd IPO opens on 31 August 2026 and closes on 02 September 2026. Bidding is accepted from 10:00 AM on the open date until 5:00 PM on the close date. The IPO is available to all eligible investors including retail individual investors, non-institutional investors, and qualified institutional buyers.
The price band for Purple Style Labs Ltd IPO is Rs 575 to Rs 575 per share. The lot size is 26 shares per lot, requiring a minimum investment of Rs 14950 at the upper price band. Investors must apply for a minimum of one lot and can apply for up to 26 lots as per SEBI guidelines.
You can apply for the Purple Style Labs Ltd IPO through the Chola Securities app or web platform using UPI or ASBA. Log in to your account, navigate to the IPO section, select Purple Style Labs Ltd from the open IPOs list, enter your bid quantity and price within the price band, and submit your application. You need an active demat account, a linked bank account, and a valid PAN to apply. Bidding closes on 02 September 2026 at 5:00 PM.
Allotment for Purple Style Labs Ltd IPO is scheduled on 03 Sep 2026. Refunds or unblocking of funds for unsuccessful applicants will be processed on 04 Sep 2026. The shares are expected to list on 07 Sep 2026. You can check your allotment status on the Chola Securities IPO page or through the registrar's website using your PAN.
Chola Securities' research team has reviewed the Purple Style Labs Ltd IPO based on the company's financials, business model, valuation, and sector outlook. The recommendation is available on this page. Investors are advised to read the full IPO note along with the company's Red Herring Prospectus before making an investment decision.
Yes, you can revise or withdraw your Purple Style Labs Ltd IPO bid before the subscription window closes on 02 September 2026 at 5:00 PM. Revisions can include changing the quantity or price within the allowed price band. To withdraw, cancel your application through the platform before the closing time. Once the subscription period ends, no further changes are permitted.
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