1 week ago
Purple Style Labs Sets Rs 680 Crore IPO Price Band
Purple Style Labs is a company that sells luxury fashion through stores and online channels.
It owns Pernia’s Pop-Up Shop.
The company plans to sell new shares to the public for Rs 680 crore.
Each share will cost between Rs 546 and Rs 575.
People can apply for shares from August 31 to September 2.
Some large investors can bid earlier on August 28.
The company will use much of the money for store and office leases and advertising.
This will be Purple Style Labs’ first time trading shares publicly.
Purple Style Labs fixed its IPO price band at Rs 546-575 per share.
The Rs 680 crore IPO will open on August 31 and close on September 2.
The issue contains only newly issued shares and no Offer For Sale component.
The company plans to use Rs 371.13 crore for PSL Retail lease liabilities and Rs 138.90 crore for sales and marketing.
The IPO comes as India’s wedding and luxury-consumption markets are projected to expand significantly.
- Who
- Purple Style Labs, the parent company of Pernia’s Pop-Up Shop, promoted by Abhishek Agarwal.
- What
- The company fixed a Rs 546-575 price band for its Rs 680 crore initial public offering.
- Where
- The announcement was made in New Delhi, and the company operates in India.
- When
- The IPO will open on August 31 and close on September 2; anchor bidding is scheduled for August 28.
- Why
- The proceeds will fund PSL Retail’s lease liabilities, sales and marketing, and general corporate purposes.
Key facts
- IPO size
- Up to Rs 680 crore
- Price band
- Rs 546-575 per share
- Subscription period
- August 31 to September 2
- Anchor bidding
- August 28
- Offer structure
- Fresh issue with no Offer For Sale component
- Planned investment
- Rs 371.13 crore in PSL Retail for Experience Centers and back-end office lease liabilities
- Sales and marketing allocation
- Rs 138.90 crore
Sources
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