| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 504.37 | 489.91 | 557.84 |
| Expenses | 557.74 | 559.62 | 734.54 |
| Other Income | 5.66 | 4.09 | 9.23 |
| Total Revenue | 510.03 | 494.00 | 567.07 |
| Profit Before Tax | -47.71 | -188.38 | -285.40 |
| Net Profit | -47.71 | -188.38 | -285.40 |
Purple Style Labs
Purple Style Labs IPO
₹14,196
0.07 xOver-subscribedBidding Dates 31 Aug, 26 -02 Sept, 26
Min Investment ₹14,196
Lot Size26
Price Range ₹546 – ₹575
Issue Size ₹680.00 Cr.
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IPO Subscription Details
Retail Subscription Details
0.36 x
Non-Institutional Buyers (sHNI)
0.08 x
Non-Institutional Buyers (bHNI)
0.01 x
Qualified Institutional Buyers (QIB)
0 x
Total0.07 x
0.07 x IPO Timeline
IPO Offer Start
31 Aug,26
IPO Offer Ends
02 Sept,26
Allotment Finalisation
03 Sept,26
Refund Initiation
04 Sept,26
Listing of Shares
07 Sept,26
IPO Analysis
Strengths
The company is one of the largest and fastest growing multi-brand luxury omni-channel fashion platform in India in terms of revenue in FY 2025, with 208,490 SKUs from 1,109 Active Designer Brands as of March 31, 2026.
The company has implemented an omni-channel model integrating online platform with physical Experience Centers, with PPUS AOV for Experience Centers in India approximately 2.34 times higher than online channels in Fiscal 2026.
The company has established strong international presence serving customers from approximately 100 countries in Fiscal 2026, with international PPUS GMV accounting for 20.29% of Total PPUS GMV worth ₹1,463.81 million.
Risks
The company has incurred significant losses with negative retained earnings of ₹7,102.86 million as of March 31, 2026, and negative net cash flows from operating activities. The company's loss after tax increased from ₹477.10 million in Fiscal 2024 to ₹2,853.99 million in Fiscal 2026, primarily due to exceptional items and increased expenses from expansion.
The company derives 77.70% of its Total PPUS GMV from womenswear in Fiscal 2026. Any variations in demand or changes in consumer preferences for womenswear could materially impact the company's business operations and financial performance.
The company derives 74.72% of its PPUS GMV from Indian Experience Centers in Fiscal 2026. All Experience Centers operate on leased premises, exposing the company to rental market conditions, lease renewal risks, and potential operational disruptions from various factors including natural disasters or regulatory changes.
Objectives
The company proposes to invest in its wholly owned subsidiary PSL Retail to fund lease liabilities for Experience Centers and back-end offices in India. This includes funding for Large-Format Experience Centers in prestigious high-street locations across metropolitan areas.
The company intends to utilize proceeds for comprehensive sales and marketing initiatives including digital marketing campaigns, content and creative production, offline marketing activities, curated events, and collaborations with influencers to enhance brand presence.
The company plans to deploy proceeds for general corporate purposes including business requirements, strategic initiatives, acquiring fixed assets, business development, designer acquisition, prepayment of debt, and other expenses as approved by the Board.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 458.39 | 497.05 | 829.60 |
| Current Assets | 205.10 | 256.50 | 275.39 |
| Fixed Assets | 253.28 | 240.55 | 554.21 |
| Total Equity & Liabilities | 458.39 | 497.05 | 829.60 |
| Total Liabilities | 418.88 | 379.55 | 881.88 |
| Current Liabilities | 248.95 | 230.90 | 530.91 |
| Non Current Liabilities | 169.93 | 148.66 | 350.97 |
| Total Equity | 39.51 | 117.50 | -52.28 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | -4.38 | 7.19 | 5.20 |
| Investing Activities | -16.79 | -12.11 | -52.45 |
| Operating Activities | -31.34 | -45.19 | -34.90 |
| Financing Activities | 43.75 | 64.48 | 92.54 |
About Purple Style Labs
Pernia's Pop-Up Shop (PPUS) is one of the largest and fastest growing multi-brand luxury omni-channel fashion platforms in India, serving customers globally through Experience Centers, online platforms, and events. The company offers curated luxury fashion from 1,109 Active Designer Brands across womenswear, menswear, jewelry, accessories and kidswear, with a focus...more
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