Pernia’s Pop-Up Shop parent Purple Style Labs plans Rs 660-crore IPO by August-end
Purple Style Labs, which operates Pernia’s Pop-Up Shop, has filed updated IPO papers after receiving SEBI approval earlier this year.
Moneycontrol News
August 15, 2026 / 13:59 IST
Pernia’s Pop-Up Shop parent Purple Style Labs is likely to launch its Rs 660-crore IPO by August-end after filing updated offer papers.
Purple Style Labs Limited, the parent of Pernia’s Pop-Up Shop, one of India’s largest and fastest-growing multi-brand luxury omni-channel fashion platforms is planning to launch its IPO by the end of August.
The company has filed its updated DRHP with SEBI, sources close to the matter said. The company received its SEBI approval in January 2026.
The IPO comes amid strong growth in India’s wedding and luxury consumption markets. India’s wedding industry has crossed Rs 10 lakh crore, with wedding wear alone projected to reach Rs 3.4 lakh crore by FY30, while the personal luxury market is expected to reach Rs 2.31 lakh crore. This rising demand is creating opportunities for multi-designer platforms that combine discovery, commerce and distribution.
Pernia’s Pop-Up Shop has over 1,300 designers and over two lakh products across its digital platform and 14 experience centres. It recorded FY25 gross merchandise value of over ₹588 crore, with an average order value of Rs 56,106 and repeat customers accounting for up to 28 percent, reflecting a shift towards higher-value customers.
The company recorded more than 11x revenue growth, from Rs 45 crore million in FY20 to Rs 5,08 crore in FY2024, translating into an approximately 83 percent CAGR..
Promoted by Abhishek Agarwal, who holds a 27.10 percent stake, Purple Style Labs is backed by a diversified base of institutional investors like Akash Bhanshali, Mukul Agarwal, and Singularity, family offices, private investors and publicly disclosed celebrity investors, including Shah Rukh Khan, Salman Khan and family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.
The company is also expanding its marquee retail footprint, with the flagship Pernia’s Pop-Up Studio at Fort, Mumbai, and experience centres on Linking Road, Mumbai and Madison Avenue, New York.
Axis Capital and IIFL Capital are advising the company on its IPO.
