Upcoming IPO: Purple Style Labs Files ₹660 Crore DRHP with SEBI
Mumbai-based luxury fashion retailer Purple Style Labs Ltd (PSL) has taken its first step towards a stock market debut. On September 22, 2025, the company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The proposed IPO is expected to raise ₹660 crore via a fresh issue of equity shares. Notably, there is no offer-for-sale (OFS) component, which means all proceeds will go directly to the company for business expansion and related needs.
Purple Style Labs IPO Highlights
| Particulars | Details |
|---|---|
| IPO Size | ₹660 crore |
| Issue Type | Book-Built Issue |
| Equity Share Face Value | ₹10 each |
| Fresh Issue | Entirely fresh issue of shares (no OFS) |
| Use of Proceeds | Subsidiary investment, lease liabilities, sales & marketing, general corporate purposes |
| Lead Managers | Axis Capital Limited, IIFL Capital Services Limited |
| Registrar | Kfin Technologies Limited |
Utilization of IPO Proceeds
According to the DRHP, Purple Style Labs intends to allocate the IPO funds as follows:
- ₹363.29 crore will be invested in PSL Retail (a wholly-owned subsidiary) to cover lease liabilities of experience centres and back-end offices in India.
- ₹128 crore will be directed towards sales and marketing expenses to strengthen the company’s brand visibility and customer reach.
- The balance amount will be set aside for general corporate purposes, offering operational flexibility.
About Purple Style Labs
Founded in 2015, Purple Style Labs has built an omnichannel luxury fashion platform that caters to both domestic and international markets. The company combines offline retail experiences with a strong online presence to bring Indian luxury brands to a global audience. The brand operates multiple experience centres across Indian metros, including Mumbai, Delhi, Bengaluru, and Hyderabad, along with a store in London. Online, its platform has already attracted more than 18.5 million unique visitors.
Purple Style Labs also runs flagship stores in Fort, Mumbai and South Extension, Delhi, with new locations planned at Linking Road, Mumbai and New York, USA.
The company’s vision is clear: to take Indian luxury fashion global while offering curated, premium selections to its customers.
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Frequently asked questions
The Purple Style Labs IPO is an upcoming book-built issue of equity shares with a total fundraising size of ₹660 crore through a fresh issue.
No, the IPO consists entirely of a fresh issue. There is no Offer for Sale (OFS) component.
Kfin Technologies Limited will serve as the registrar to the issue.
The IPO opening and closing dates have not been announced yet. Investors should wait for SEBI and stock exchange updates.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are advised to refer to the official documents and consult their financial advisor before making any investment decisions.
