Upcoming IPO: Shahrukh Khan, Sachin Tendulkar, Madhuri Dixit-owned Purple Type, the mum or dad firm of Pernia’s Pop-Up Store, is all set to launch ₹660 crore preliminary public providing (IPO).
In response to a report by information company PTI, the corporate will hit the first market by the tip of August.
Purple Type IPO particulars
The corporate, which runs a multi-brand luxurious trend omni-channel platform, had submitted its up to date draft purple herring prospectus (UDRHP) to market regulator Sebi. Purple Type Labs had acquired Sebi’s approval to launch its IPO in January this 12 months.
In response to the DRHP, the proposed IPO will comprise a recent difficulty of as much as ₹660 crore, with no offer-for-sale element. This follows round ₹402 crore raised by way of non-public major funding throughout eight rounds from traders corresponding to Binny Bansal, Akash Bhansali and Singularity, with the newest spherical valuing the corporate at ₹3,662 crore post-money.
The corporate intends to utilise the IPO proceeds to fund its wholly owned subsidiary, PSL Retail, in direction of lease liabilities for expertise centres and back-end places of work throughout India. A part of the funds can be allotted to gross sales and advertising initiatives, whereas the steadiness can be utilised for normal company functions.
Axis Capital Ltd and IIFL Capital Companies Ltd are the bankers to the difficulty.
The IPO comes in opposition to the backdrop of strong development in India’s marriage ceremony and luxurious consumption segments.
Purple Type traders record
Promoted by Abhishek Agarwal, who owns a 27.10% stake, Purple Type Labs has a various investor base comprising institutional traders corresponding to Akash Bhanshali, Mukul Agarwal and Singularity, together with household places of work, non-public traders and publicly disclosed celeb backers together with Shah Rukh Khan, Salman Khan and his household, Sachin Tendulkar, Madhuri Dixit and Mahesh Babu.
Madhuri Dixit Nene was the earliest investor, coming in by way of convertible choice shares that had been transformed solely in 2025. The Gauri Khan Household Belief participated in a rights difficulty in November 2024, whereas Tendulkar invested by way of a preferential allotment in March 2025.
Each investments had been made on the similar worth paid by institutional traders within the firm’s final non-public funding spherical, which valued the corporate at ₹3,662 crore post-money. In different phrases, their investments had been made on the phrases established in that funding spherical, reasonably than below separate preparations.
In regards to the firm
Pernia’s Pop-Up Store options greater than 1,300 designers and over two lakh merchandise throughout its digital platform and 14 expertise centres. In FY25, the corporate clocked a gross merchandise worth (GMV) of over ₹588 crore, with a median order worth of ₹56,106. Repeat prospects contributed as much as 28%, indicating a rising choice amongst shoppers for higher-value purchases.
The corporate has delivered robust development, with income rising greater than 11-fold from ₹45 crore in FY20 to ₹508 crore in FY24, representing an roughly 83% compound annual development charge (CAGR).
Pernia’s Pop-Up Store can also be strengthening its premium retail presence, with its flagship Pernia’s Pop-Up Studio positioned in Fort, Mumbai, together with expertise centres on Linking Highway in Mumbai and Madison Avenue in New York.
Disclaimer: This story is for instructional functions solely. Please seek the advice of with an funding advisor earlier than making any funding choices.
