Purple Style Labs IPO faces Pernia trademark-rights challenge
Pernia Qureshi has challenged Purple Style Labs’ descriptions of its rights to the Pernia name ahead of the company’s Rs 680 crore IPO. Axis Capital revised its investor note, while Purple Style Labs said it does not use Pernia as a standalone brand.
What happened
Purple Style Labs’ Rs 680-crore IPO faces a trademark-rights dispute after Pernia Qureshi challenged descriptions of the company’s rights to the Pernia name.
Key facts
- Rs 680 crore
- 2018
- August 26
- January 2026
Why this matters
Any partnership, acquisition, or strategic engagement with Purple Style Labs should include diligence on Pernia-related trademark ownership, usage restrictions, and contingent liabilities before assigning value to the brand ecosystem.
What to watch
- DRHP/RHP amendments or exchange filings that revise trademark disclosures, risk factors, related-party arrangements, or use-of-brand descriptions.
- Any court filing seeking an injunction, rectification, cancellation, passing-off remedy, or restrictions on standalone use of the Pernia name.
- Evidence that Axis Capital or other intermediaries further amend, withdraw, or qualify investor research.
- Changes in IPO launch dates, anchor-book timing, price band, issue size, or stated use of proceeds.
- Company disclosures on the share of GMV, revenue, customers, store sales, or marketing conversion attributable to Pernia-branded operations.
- A settlement, licensing agreement, coexistence arrangement, or public statement from Pernia Qureshi that narrows or escalates the dispute.
- File or update IPO risk disclosures detailing trademark registrations, license or assignment agreements, renewal status, pending claims, and contingency plans.
- Obtain an independent legal opinion on ownership and permitted commercial use of the Pernia marks across ecommerce, stores, private labels, and advertising.
- Separate the corporate brand from the Pernia customer-facing proposition in investor materials and quantify revenue, traffic, repeat purchase, and acquisition dependence on Pernia branding.
- Prepare settlement, coexistence, licensing, or rebranding options to reduce injunction risk before bookbuilding.
- Bankers may test anchor-investor appetite at a lower valuation range and emphasize the company’s multi-brand portfolio beyond Pernia.