Purple Style Labs has raised Rs 306 crore from anchor investors ahead of its IPO, which opens for subscription on Monday, August 31, and closes on Wednesday, September 2. The company allotted 53.21 lakh shares to 10 anchor investors at Rs 575 per share.

The anchor book saw participation from domestic and global institutional investors, including ICICI Prudential Mutual Fund, Jupiter India Fund, The Jupiter Global Fund – Jupiter India Select, Aditya Birla Sun Life Insurance Company, ITI Multi Cap Fund, ITI Flexi Cap Fund, Singularity Equity Fund I, Integrated Core Strategies Asia, Morgan Stanley Asia Singapore and BoFA Securities Europe SA – ODI.

Out of the total anchor allocation, 17.39 lakh shares, or nearly 33% of the anchor investor portion, were allotted to two domestic mutual funds through three schemes. The anchor allotment gives Purple Style Labs an institutional start before the issue opens for public bidding next week.

Purple Style Labs is backed by interest in India’s premium fashion and luxury consumption space, a segment that has drawn investor attention as urban discretionary spending and organised fashion retail expand.

Purple Style Labs IPO details

The IPO will open on August 31 and close on September 2. Axis Capital and IIFL Capital Services are the book-running lead managers to the issue.

Purple Style Labs is a multi-brand luxury omni-channel fashion platform operating under Pernia’s Pop-Up Shop (PPUS), offering a curated portfolio of luxury fashion products across womenswear, menswear, jewellery, accessories and kidswear, with a focus on wedding and occasion wear.

The company sources products from 1,109 active designer brands as of March 2026, including Seema Gujral, Anushree Reddy, Amit Aggarwal and Rohit Gandhi and Rahul Khanna.

It operates through an omni-channel business model comprising experience centers, its website, mobile application, telephonic and digital sales channels, events and exhibitions. As of March 2026, it had 14 Experience Centers globally, including 12 in India and one each in London and New York.