Upcoming IPO: Luxury fashion firm Purple Style Labs files DRHP with Sebi to raise ₹660 crore via public issue
Upcoming IPO: Mumbai-based Luxury fashion firm Purple Style Labs iled its initial draft papers with the capital markets regulator on 22 September 2025. The company is looking to raise funds from the Indian stock market via a fresh issue.
Upcoming IPO: Mumbai-based luxury fashion firm, Purple Style Labs Ltd, filed its preliminary draft papers with the capital markets regulator, the Securities and Exchange Board of India (Sebi), on Monday, 22 September 2025.
Purple Style Labs aims to raise ₹660 crore from the Indian stock market through an entirely fresh issuance of equity shares.
Purple Style Labs IPO details
Purple Style Labs is offering a book-built issue initial public offering (IPO) comprising entirely fresh issuance of equity shares with a face value of ₹10 apiece, amounting to ₹660 crore. The filing data showed that there was no offer for sale (OFS) component part of the public offer, according to the DRHP data.
The company seeks to raise ₹660 crore from the Indian stock market via this IPO round. Purple Style Labs plans to use ₹363.29 crore from the IPO funds raised to invest in its wholly owned Subsidiary, PSL Retail, towards the expenditure of lease liabilities of Experience Centres, and back-end offices in India.
The draft papers also showed that ₹128 crore raised from the IPO round will be used towards funding sales and marketing expenses to be incurred by the company. The remaining funds will be used for general corporate purposes.
Axis Capital Limited, IIFL Capital Services Limited, are the book running lead managers of the public issue, while Kfin Technologies Limited is the registrar of the offer.
About Purple Style Labs
Purple Style Labs, incorporated in 2015, is an omnichannel luxury fashion platform. According to website data, the company has an offline and online presence and offers luxury fashion items to its customers in India and abroad.
“We aim to expand the reach of India-based brands to the biggest luxury markets of the world. Through a continuous expansion of our global footprint, increase and optimization of our product categories, we are en route to creating a carefully curated selections in luxury fashion in the country, providing global access to Indian design,” the company said in its website.
Purple Style Labs has offline stores in Mumbai, Delhi, Bengaluru, Hyderabad, and London, as well as an online platform that has attracted 18.57 million unique visitors.
PSL has opened two flagship stores in Fort, Mumbai, and South Extension, Delhi, and currently has plans to open other locations at Linking Road, Mumbai, and New York, United States, according to the company data.
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