Purple Style Labs Ltd IPO
Trading
Price Band
₹546 – ₹575
Lot Size
26
Minimum Bid Quantity
26
Minimum Investment
₹14950
Issue Size
₹680Cr
Opens
2026-08-31
Closes
2026-09-02
Listing
07-09-2026
Subscription Status
Qualified Institutional Buyers
1.43 x
Non-Institutional Investor
0.84 x
Retail Individual Investor
1.55 x
Total
1.29 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0I1B01016
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Purple Style Labs Limited is a multi-brand luxury fashion platform serving customers in India and international markets through online and physical channels. Its product categories include womenswear, menswear, jewellery, accessories, and kidswear, with a focus on wedding and occasion wear. As of March 31, 2026, the platform offered products from 1,109 active designer brands. Customers can purchase products through the company’s website, mobile application, telephonic and digital sales channels, experience centres, and events and exhibitions. The company operates 14 experience centres globally, including 12 in India, one in London and one in New York. Its Indian experience centres are located in Mumbai, Delhi, Bengaluru, Chennai, Kolkata, Ahmedabad, Indore, Hyderabad, and Surat. The company also operates large format experience centres ranging from 20,000 to 60,000 square feet in built-up area in Mumbai, Delhi, and New York. Pernia’s Pop-Up Shop acquired its website and related business assets and intellectual property in February 2018.
Pros
- • As of March 31, 2026, the company had 208,490 SKUs representing products from 1,109 active designer brands across womenswear, menswear, jewellery, accessories and kidswear. Its menswear PPUS GMV increased at a CAGR of 17.28% between FY24 and FY26.
- • The company operates an omni-channel model combining its website and mobile application with 14 experience centres across India, the UK, and the US. In FY26, its online platform recorded 19.14 million unique visitors.
- • In FY26, the company served customers from approximately 100 countries through its online channels and experience centres in London and New York. International business contributed 20.29% of its total PPUS GMV, with the US accounting for 10.65% and the UK for 5.58%.
Cons
- • The company has incurred losses after tax of Rs 285.40 crore, Rs 188.38 crore, and Rs 47.71 crore in FY26, FY25, and FY24, respectively, and had negative retained earnings of Rs 710.29 crore as of March 31, 2026. It also reported negative cash flows from operating activities of Rs 34.89 crore, Rs 45.18 crore, and Rs 31.34 crore in FY26, FY25, and FY24, respectively, primarily due to upfront working capital costs associated with the expansion of Large Format Experience Centres. Sustained losses and negative cash flows would require a fresh injection of funds. A clear roadmap to turn profitable is essential for investors to remain confident in the company’s future prospects.
- • The company derives a substantial portion of its Total PPUS GMV from womenswear, which contributed Rs 560.65 crore (77.70%), Rs 445.13 crore (75.66%), and Rs 484.30 crore (77.88%) in FY26, FY25, and FY24, respectively. Demand slowdown or changes in consumer preferences for womenswear, including due to changes in disposable income, consumer confidence, trade policies, or geopolitical conditions, could adversely affect the company’s sales, financial condition, and results of operations.
- • The company derives a significant portion of its total PPUS GMV from its experience centres in India. Mumbai and Delhi alone contributed Rs 205.04 crore (28.42%) and Rs 165.51 crore (22.94%), respectively, to total PPUS GMV in FY26. Any disruption to the operations of these experience centres, adverse developments in their respective regions, increases in rental costs, or inability to open and operate new centres profitably could adversely affect the company’s business, financial condition and results of operations.
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