Purple Style Labs IPO
Purple Style Labs Limitedpurplestylelabs.com
- Price band
- ₹546 – ₹575
- Issue size
- ₹680 Cr
- Lot size
- 26 sh
- Bidding
- 31 Aug – 2 Sep
- Grey market
- —
Face value ₹10.00
100% fresh capital
Lists 7 Sep 2026
No quote recorded
Market data to 30 Oct 2026. Company figures are as filed, sourced 15 Oct 2026. Every figure’s origin is listed under Sources.
The question this issue poses
In one sentence
Purple Style Labs is described in the record as the operator of Pernia's Pop-Up Shop, a multi-brand retailer of Indian designer wedding and occasion wear selling through 14 Experience Centers and perniaspopupshop.com. Revenue was Rs 504.37 Cr in FY24, Rs 489.91 Cr in FY25 and Rs 557.84 Cr in FY26, while the loss after tax was Rs 47.71 Cr, Rs 188.38 Cr and Rs 285.40 Cr across the same three years. Net worth was Rs 39.51 Cr in FY24 and Rs 117.50 Cr in FY25, and negative Rs 52.28 Cr in FY26, with borrowings of Rs 371.40 Cr. The Rs 680 Cr issue, entirely fresh, closed subscribed 1.29 times, listed at Rs 535 against a band top of Rs 575 and last traded at Rs 500.30 on 23 October 2026.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Growing the top line, losing money
58% of the scoring model was backed by disclosed data for Purple Style Labs, giving low confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
Loss-making in the latest full year
The company reported a net loss of ₹285.4 Cr in FY26. P/E is undefined, so valuation is scored on sales instead of earnings.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2015 · CTS No. 1081, Plot no. 110, TPS Village, Service Road, Western Express Highway, Vile Parle East, Mumbai 400 057, Maharashtra, India · 1,266 employees
Purple Style Labs runs Pernia's Pop-Up Shop (PPUS), a multi-brand retailer of Indian designer clothing focused on wedding and occasion wear. It buys finished garments, jewellery, accessories and kidswear from independent Indian designers — 1,109 Active Designer Brands and 208,490 SKUs as of March 31, 2026, including Seema Gujral, Anushree Reddy and Amit Aggarwal — and resells them through its own storefronts. Customers shop at 14 "Experience Centers" (12 in India, one in London, one on Madison Avenue, New York), several of them Large Format stores of 20,000 to 60,000 square feet, or through perniaspopupshop.com and the mobile app. In Fiscal 2026 it served 66,713 customers across 95,565 orders at an average order value of ₹75,504.88, on Total PPUS GMV of ₹7,215.62 million.
Revenue is the retail price of goods sold: ₹5,526.04 million of goods and ₹52.34 million of services in Fiscal 2026. Stock arrives by outright purchase, back order or consignment, with title taken just before the customer sale; gross margin was 37.54% in Fiscal 2026 against 42.06% in Fiscal 2025. The constraint is leased floor space. Fiscal 2026 EBITDA of ₹303.65 million was swallowed by ₹1,007.49 million of depreciation and ₹970.87 million of finance costs — against right-of-use assets of ₹4,165.35 million and borrowings of ₹3,714.02 million — for EBIT of negative ₹703.84 million. A non-cash ESOP exceptional charge of ₹1,179.28 million sat below that. Of net proceeds, ₹3,711.26 million was earmarked for Experience Center lease liabilities.
The company on paper
- Legal name
- Purple Style Labs Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 6 Aug 2015
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U18204MH2015PLC267215
- Sector
- Consumer Discretionary · Multi-brand luxury retail of Indian designer wedding and occasion wear, omni-channel
- Employees
- 1,266
- Registered office
- CTS No. 1081, Plot no. 110, TPS Village, Service Road, Western Express Highway, Vile Parle East, Mumbai 400 057, Maharashtra, India
- Promoters
- Abhishek Agarwal
- Promoter holding, pre-issue
- 26.1%
- Promoter holding, post-issue
- 22.5%
- Website
- purplestylelabs.com
The numbers
Financial performance
Revenue has compounded at 5.2% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹680 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹680 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 3.6% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹575.00
- Listed at
- ₹535.00
- Listing gain
- down 7.0%
- Since listing
- down 6.3%
- Against the issue price
- down 12.9%
Trading at ₹501.05 on 30 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 26
- At cut-off price
- ₹575.00
- Amount blocked
- ₹14,950
One lot is 26 shares at ₹14,950. Retail applications are capped at ₹2,00,000, which allows up to 13 lots here — apply for more and you are bidding as a non-institutional investor instead.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~63%
chance of one lot, per application
- Retail subscription
- 1.58×
- Applicants per share available
- 1.6× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹535.00
listed at, −7.0% against the issue price
- Issue price
- ₹575.00
- Premium said
- —
- If allotted 26 shares
- −₹1,040
Listing-day figures are as reported by the exchanges.
Our read
The case for and against
Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.
What works
- Revenue of Rs 557.84 Cr in FY26 was 13.87% above the Rs 489.91 Cr of FY25 and 10.60% above the Rs 504.37 Cr of FY24.
- EBITDA was positive in each of the three years the record carries: Rs 31.63 Cr in FY24, Rs 41.99 Cr in FY25 and Rs 30.37 Cr in FY26.
- The issue was entirely primary — Rs 680 Cr of fresh issue and nil offer for sale — and the record states that Rs 3,711.26 million of net proceeds was earmarked for Experience Center lease liabilities.
- For Fiscal 2026 the company reports 66,713 customers across 95,565 orders at an average order value of Rs 75,504.88, on Total PPUS GMV of Rs 7,215.62 million, drawing on 1,109 Active Designer Brands and 208,490 SKUs as of March 31, 2026.
What to weigh against it
- The loss after tax widened in both years following FY24 — Rs 47.71 Cr in FY24, Rs 188.38 Cr in FY25 and Rs 285.40 Cr in FY26 — the FY26 figure being 51.16% of that year's Rs 557.84 Cr revenue.
- Net worth was negative Rs 52.28 Cr at 31 March 2026, against Rs 117.50 Cr in FY25 and Rs 39.51 Cr in FY24. Borrowings were Rs 371.40 Cr in FY26 against Rs 112.79 Cr in FY25 and Rs 116.33 Cr in FY24, 3.29 times the FY25 figure.
- The record states Fiscal 2026 EBITDA of Rs 303.65 million against depreciation of Rs 1,007.49 million and finance costs of Rs 970.87 million, for EBIT of negative Rs 703.84 million, with a non-cash ESOP exceptional charge of Rs 1,179.28 million below that, set against right-of-use assets of Rs 4,165.35 million.
- The record states gross margin of 37.54% in Fiscal 2026 against 42.06% in Fiscal 2025, a fall of 4.52 percentage points.
Easy to miss in the prospectus
- The share last traded at Rs 500.30 on 23 October 2026, 12.99% below the Rs 575 band top, having listed at Rs 535 on 7 September 2026 and closed its first day at Rs 568.55.
- The record carries a single subscription snapshot, for day 3 on 2 September 2026: 1.29 times overall, with QIB at 1.43 times, retail at 1.58 times and NII at 0.84 times.
- Promoter holding is 26.09% pre-issue and 22.46% post-issue, with Abhishek Agarwal the sole promoter named.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- Axis Capital Limited, IIFL Capital Services Limited
- RegistrarAllotment status is checked on the registrar's own site
- KFin Technologies Limited
How these figures were checked
Reconciled to Purple Style Labs's own prospectus and to exchange disclosures, then cross-checked against 7 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- Prospectus (final), filed with NSE, dated September 3, 2026 — read in full as text · read 15 Oct 2026
- Red Herring Prospectus dated August 24, 2026, hosted by Axis Capital — read in full as text · read 15 Oct 2026
- NSE official IPO detail / bid details for PERNIASPOP (final consolidated subscription, as on 02-Sep-2026 19:00 IST) · read 15 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
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