Pernia’s Pop-Up Shop parent files RHP for ₹680 Cr IPO

Purple Style Labs has filed its RHP for a ₹680 Cr fresh-issue IPO, ₹20 Cr above the proposed size. Proceeds are earmarked largely for lease liabilities across Pernia’s Pop-Up Shop’s 12 experience centres, plus sales and marketing through FY30.

— Source publishedTue, 25 Aug, 2026, 14:03 IST·First seen Tue, 25 Aug, 2026, 14:11 IST·Source Inc42

What happened

Pernia’s Pop Up Shop parent Purple Style Labs filed its RHP for a ₹680 Cr fresh-issue IPO. Proceeds will primarily fund lease liabilities for its 12 experience

Key facts

  • IPO fresh issue size: ₹680 Cr
  • Increase from proposed size: ₹20 Cr
  • Debt raised: ₹162 Cr
  • Lease liabilities funding: ₹371.1 Cr
  • Sales and marketing funding through FY30: ₹138.9 Cr
  • Experience centres: 12
  • Back-end offices: 2

Why this matters

Purple Style Labs is using public-market capital to reinforce Pernia’s omnichannel luxury platform, with funding focused on store-network commitments and customer-acquisition capacity.

What to watch

  • SEBI observations and final IPO launch date.
  • Anchor investor demand, subscription levels, price band and any valuation revision.
  • Exact split of proceeds between lease liabilities, sales and marketing, working capital and other uses.
  • Same-store sales growth and revenue productivity across the 12 experience centres.
  • Marketing spend as a percentage of sales, customer acquisition cost and repeat-customer trends.
  • EBITDA margin trajectory, operating cash flow and post-issue lease-liability balance.
  • Luxury discretionary-demand indicators and competitive expansion by multi-designer platforms.
  • Finalize IPO price band, anchor-book participation and listing timetable after regulatory clearances.
  • Prioritize lease-liability repayment or restructuring to improve balance-sheet flexibility and reduce fixed-cost risk.
  • Deploy marketing capital toward high-repeat, high-margin luxury categories and measurable digital-to-store conversion.
  • Use the public-market profile to deepen designer partnerships, exclusive launches and premium brand collaborations.
  • Provide investors with centre-level productivity, repeat-purchase, customer-acquisition-cost and contribution-margin disclosures.

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