Archive · 16 Aug 2026
Celebrity-Backed Purple Style Labs Plans ₹660 Crore IPO
Purple Style Labs is a company that owns a big online shop for fancy clothes called Pernia's Pop-Up Shop.
Soon, the company wants to raise a lot of money, about ₹660 crore, by selling parts of itself to people — this is called an IPO, like when a bakery sells slices of its cake to many people.
The shop is extra special because some very famous movie stars and a cricket legend, like Shah Rukh Khan, Madhuri Dixit, Salman Khan, Mahesh Babu and Sachin Tendulkar, own a piece of the company.
The money the company raises will be used to pay for its stores, offices and advertising.
The shop sells very expensive designer clothes — the average order costs about ₹56,106.
The company has grown very fast, from ₹45 crore of sales in 2020 to ₹508 crore in 2024.
It sells clothes from more than 1,300 designers and has more than two lakh products.
The company is hoping to launch its IPO by the end of August.
With famous people backing it, lots of people are excited to see what happens.
Purple Style Labs, parent company of Pernia's Pop-Up Shop, plans a ₹660 crore IPO expected to hit the primary market by the end of August.
The IPO comprises a fresh issue with no offer-for-sale component, and Sebi approved it in January.
Celebrity investors include Shah Rukh Khan, Salman Khan and his family, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu; promoter Abhishek Agarwal owns a 27.10% stake.
Proceeds will fund subsidiary PSL Retail's lease liabilities, sales and marketing initiatives, and general corporate purposes; Axis Capital and IIFL Capital Services are the bankers.
Revenue grew about 11-fold from ₹45 crore in FY20 to ₹508 crore in FY24 (roughly 83% CAGR), with FY25 GMV of over ₹588 crore and repeat customers at 28%.
- Who
- Purple Style Labs, parent company of Pernia's Pop-Up Shop, promoted by Abhishek Agarwal and backed by celebrities including Shah Rukh Khan, Salman Khan, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu
- What
- Launching a ₹660 crore initial public offering (IPO) with a fresh issue component and no offer-for-sale
- When
- By the end of August, following Sebi approval in January
- Where
- India's primary market; the company also has experience centres in Mumbai and New York
- Why
- To fund subsidiary PSL Retail's lease liabilities for experience centres and back-end offices, sales and marketing initiatives, and general corporate purposes
- IPO size
- ₹660 crore (fresh issue, no offer-for-sale)
- Expected launch
- End of August
- Latest valuation
- ₹3,662 crore post-money
- Private funding raised
- ₹402 crore across 8 rounds
- Promoter
- Abhishek Agarwal (27.10% stake)
- Bankers
- Axis Capital Ltd and IIFL Capital Services Ltd
- FY25 gross merchandise value
- Over ₹588 crore
- Average order value
- ₹56,106